Allegations Against Choi Si-won and Cho Hyun-young
K-pop stars Choi Si-won and Cho Hyun-young have recently refuted claims linking them to the promotion of South Korean “scam coins.” Specifically involved in the controversy is Winnerz, a blockchain-powered sports platform under suspicion. A multitude of prominent South Korean YouTubers and celebrities have faced accusations regarding their ties to Winnerz, which has been accused of orchestrating a fraudulent multi-level scheme.
Choi Si-won, a member of the famed K-pop group Super Junior, and Cho Hyun-young, a former member of Rainbow, have transitioned into YouTubers with substantial followings. Allegations against them primarily revolve around their association with a suspected scam coin named The Youth Pay (TYP), an Ethereum-based token introduced by the Korea Youth Commission. Questions have surfaced regarding their involvement, particularly after receiving certificates from the Korea Youth Committee, prompting speculation about potential financial incentives.
Police Investigations and Denials
Amidst plummeting values and investor accusations labeling The Youth Pay as a fraudulent endeavor, law enforcement agencies have initiated probes. The situation further escalated with images surfacing, showing Cho alongside an individual linked to TYP, sparking further interrogations into their connections.
While the interconnectedness of Winnerz-associated scam coins and The Youth Pay remains uncertain, recent arrests made in conjunction with suspected scam coin cases point to potential associations. The development of the investigation prompted Choi Si-won to clarify his involvement in the Korea Youth Committee’s activities, emphasizing his non-involvement in any contentious endeavors. In contrast, Cho acknowledged her ambassadorial role with the Korea Youth Committee but disavowed any association with The Youth Pay or its promotions.
