Park Gyuri Denies Involvement in Crypto Scandal
- Lyla Velez
- July 24, 2025
- News
- 0 Comments
Key Points:
- Park Gyuri denies crypto involvement at Seoul Court.
- PicaCoin linked to fraud and manipulation.
- No market effects on major cryptocurrencies observed.
At the heart of the controversy, Park Gyuri maintains her innocence against accusations in the ongoing crypto case, stating she never profited from PicaCoin.
During her court testimony, Park Gyuri highlighted that she had no prior knowledge of virtual assets, emphasizing her role was limited to curatorial and promotional duties. She denied involvement in crypto-related activities, insisting on her non-participation in illegal business ventures.
Park elaborated that any transactions made concerning PicaCoin were conducted at the behest of Song Ja-ho, CEO of Pica Project, and all funds were promptly returned. The court reviewed her statements as part of the fraud investigation.
The controversy has primarily impacted individuals directly tied to PicaCoin, with significant financial losses reported by investors. No broader effects in the cryptocurrency market or on major tokens like BTC or ETH have been noted in current reports.
Analysts observe the case primarily as a reflection of the risks associated with celebrity-driven token launches, underscoring the potential for fraudulent activities within less regulated digital asset projects.
Notably absent in this case is any official commentary or intervention by major exchanges or cryptocurrency figures. The ongoing legal proceedings will potentially define future regulatory frameworks surrounding celebrity endorsements in crypto ventures.
Looking forward, the legal outcomes of this case may set precedents for handling fraud in crypto markets. Historical trends indicate a need for enhanced regulatory measures to curb such incidents and protect investors from similar risks.
“I had no knowledge of virtual assets and did not want my photo included in the Pica Token white paper. I never took part in illegal coin-related business or gained any profit from it. Any deposits or withdrawals related to the coin were done at Mr. Song’s request and immediately returned or transferred. I never profited from cryptocurrency.” — Park Gyuri, Former K-pop Artist, Chief Communications Officer of Pica Project
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