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Park Gyuri and the PICA Coin Case: New Fraud Allegations

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by Giorgi Kostiuk

a day ago


Park Gyuri, a former member of the popular group KARA, finds herself at the center of a scandal involving allegations of fraud in the PICA Coin cryptocurrency project. The ongoing legal proceedings in Seoul raise important questions about the influence of celebrities on cryptocurrency investments.

Overview of the Allegations

Park Gyuri, who served as Chief Communications Officer for the PICA Project, is accused of fraud related to the cryptocurrency PICA Coin. The case highlights the need for clarity regarding celebrity involvement in financial projects.

Evidence and Testimony

Gyuri asserts she had no involvement in illegal activities. She stated, "I never profited from cryptocurrency... Any deposits or withdrawals related to the coin were done at Mr. Song’s request and immediately returned or transferred." This statement emphasizes her effort to distance herself from any allegations of market manipulation.

Impact on Cryptocurrency Market

The allegations surrounding the PICA Coin project negatively affect investor confidence in celebrity-backed tokens. Upbit has delisted PICA Coin, demonstrating the serious repercussions for the trustworthiness of crypto assets and exchange policies.

The legal proceedings concerning Park Gyuri and PICA Coin underline the importance of due process in financial matters. The outcomes may have significant implications for the regulatory and technological aspects related to cryptocurrencies.

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