In response to the media outlet’s claims on insider fraud, Big Hit Entertainment released an official announcement.
On November 13, a media outlet reported that billions of dollars in investment fraud regarding BTS concerts were revealed by the victims of the scam. According to the reports, entertainment insiders seized around 5 billion KRW (~ 4 million USD) in investments by using the popularity of BTS.
In response to this, Big Hit Entertainment stated, “The contracts that they showed in the reports are all forged contracts. We have not signed any of these contracts.”
They continued, “We will take legal action after confirming and identifying the criminal charges.”
BTS is currently promoting in both domestic and international activities and breaking records in the world of K-Pop.