[Translate] BTS's Jungkook Targeted in ₩38 Billion Heist Attempt; Hacker Ping Leader Sentenced to 20 Years in Prison at First Trial

Charged with violations of the Act on the Aggravated Punishment of Specific Economic Crimes, the Information and Communications Network Act, and other offenses

The leader of hacking organization who was indicted for allegedly stealing approximately ₩39 billion (US$26 million) by impersonating BTS member Jungkook and the chairmen of major corporations has been sentenced to a lengthy prison term at his first trial.

On August 20, the Seoul Central District Court's Criminal Division 31, presided over by Chief Judge Park Jun-seok, sentenced A, a Chinese national, to 20 years in prison for fraud under the Act on the Aggravated Punishment of Specific Economic Crimes, violations of the Information and Communications Network Act, and other charges.

The court stated, "A sought out wealthy individuals in South Korea as targets and stole their assets." It pointed out that, unlike victims of typical voice-phising scams,"the victims in this case had their assets stolen while completely defenseless and without any fault on their part."

The court coninued, "This is a serious crime that not only affects the individual victims but also shakes the foundations of South Korea's financial system," criticizing the defendant for the fact that "the total amount of damages reached tens of billions of won, and none of the losses ave been recovered."

A was indicted on charges of organizing a hacking crime group overseas, including in Thailand, and using illegally obtained personal information to make unauthorized withdrawals from bank accounts from August 2023 through last year. Based on personal information obtained through hacking, the group allegedly opened low-cost mobile phone accounts under the victims' names and intercepted authentication codes, allowing them to access bank accounts,stock-trading accounts, cryptocurrency exchange accounts, and other financial services. They were also found to have attempted to hack public institutions and related organizations.

Among A's targets were several weatlhy individuals, including Jungkook and the chairmen of major corporations. Jungkook was targeted for approximately ₩8.4 billion (US$5.7 million) worth of HYBE shares, but the attempted theft did not result in an actual financial loss because his agency too measures to suspend the relevant transactions.

In total, 16 victims suffered actual financial bases, with the combined damages estimated at approximately ₩3.9 billion (US$26 million).

Original article: Hankook Ilbo