Recently, there’s a Kpop breaking news involving the ‘ARMY COIN’ and superstars BTS. What is this all about? Have you heard the ARMY COIN? What does it have to do with BTS? Let’s find out!
The management company behind the Kpop group BTS called out a new cryptocurrency to refrain from using the BTS’s image to promote their business. HYBE, the label that manages BTS, has released an official statement and cleared that BTS has nothing to do with the recently launched ARMY COIN. If you haven’t heard this Kpop news, let me elaborate more for you!
What Is ARMY COIN?
In late October last year, ARMY COIN cryptocurrency was launched on the Singapore-based Bitget exchange. During its launch, it was not available using fiat currency but only be bought using USDT stablecoin.
Currently, there are a total of 10 billion ARMY coins in existence. Its price has increased significantly since its launch by 5000%. Based on the Bitget exchange chart, ARMY COIN price was around 0.007USDT as of October 27, 2021, but rallied to 8USDT as of October 28, 2021. Then, as of November 1, 2021, it costs 2.37USDT.
These are just the bare facts about ARMY COIN. During its launch, it used the name of the Kpop group BTS for promotion, which caught the attention of HYBE.
As a result, HYBE warns Kpop fans …
At the time, HYBE released an official statement saying that they were not connected with this cryptocurrency and had no proper negotiation with this Singapore-based cryptocurrency. Also, HYBE emphasized that BTS has not agreed to promote this ARMY COIN.
Furthermore, HYBE took legal action against anyone involved in the ARMY COIN cryptocurrency. The agency even urged the victims who invested in taking legal action.
In short, we can conclude that ARMY COIN crypto was just using the fame of BTS to promote their business, and that’s illegal given that there’s no discussion between the authorized persons.
BTS is one of the most prominent artists in the world. Their single ‘Butter,’ released in May 2021, broke various world records, making remarkable history. In addition, BTS is considered one of the most commercially successful Kpop groups of all time. This Singapore-based cryptocurrency used the BTS fandom name ARMY, calling the token ARMY COIN, to boost its image and become famous.
Until now, there is no concrete information about who set up the ARMY COIN. We can just assume that whoever created this ARMY COIN is just a fan of BTS or just someone who wants to exploit money or tether coins from Kpop fans, using BTS, and run off with it.
Also, rumor has it that the founder of ARMY COIN is anywhere from Southeast Asia, believing that their first language is not English based on the token’s presence. But, this is just an assumption, and there’s no other info to support this claim. Since the founder or founders of ARMY COIN have not introduced themselves publicly like other legit cryptocurrencies, it’s a red flag as if something happens, and no one knows who will be accountable.
ARMY COIN, Scam or not?
Well, it’s really hard to say if it's a scam or not, but given the lack of information and transparency makes it look like a scam, right? But, whether it is legit or not, maybe it’s not something Kpop fans want to invest in. There are so many legit cryptocurrencies out there that can be your best option.
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