K-pop Star Park Gyuri Denies Pica Coin Fraud Involvement as Ex-Partner's Trial Proceeds

Park Gyuri, a former member of K-pop group KARA, has denied involvement in a cryptocurrency fraud case linked to her ex-boyfriend, Song Ja-ho, as legal proceedings against him continue. The allegations center on Pica Coin, an art-themed altcoin project managed by Song, who faces charges of fraud and breach of trust. During a Seoul court hearing, Park testified that she viewed the project as a legitimate art-technology venture at the time of her participation in 2021. She admitted selling her personal Bitcoin holdings to invest in Pica Coin but claimed the investment was lost after the token was delisted from Upbit in June 2021 [1]. Park emphasized she received only a salary for her role as Pica Coin’s Chief Communications Officer and Advisor, denying any awareness of fraudulent activities or profits from the project [2].

Song Ja-ho, the project’s founder, is accused of manipulating Pica Coin’s price and defrauding investors through fabricated art investments. Prosecutors allege he orchestrated a scheme to induce participants to fund non-existent art pieces, a claim he has not publicly denied [3]. Park’s defense hinges on her assertion of limited involvement, with her representatives citing privacy concerns and declining further comment. However, her position as a key figure in the project has drawn scrutiny, particularly given the alleged $43,566 cash transfer she allegedly received from Song months after their reported breakup. This payment, if proven, could complicate her claims of ignorance about the project’s true nature [4].

The case has intensified industry-wide debates about the risks of celebrity-backed cryptocurrency projects. Pica Coin’s collapse and subsequent legal fallout highlight vulnerabilities in low-cap altcoin ventures, where transparency is often lacking. Park’s association with the project, despite her claims of limited awareness, underscores the challenges of distinguishing between genuine collaboration and implicit endorsement. Analysts note that celebrities, due to their public influence, face heightened expectations of due diligence, and their involvement can significantly sway investor perceptions [3].

Broader implications extend to regulatory scrutiny of celebrity-linked crypto ventures. The Pica Coin case may prompt stricter oversight of endorsements, particularly in jurisdictions where legal frameworks for digital assets remain evolving. For Park, the trial’s outcome could shape public trust in her career and set precedents for how courts evaluate personal relationships in business contexts. Her legal team’s strategy of emphasizing her lack of financial gain from the project contrasts with prosecutors’ focus on her formal role, illustrating the complexities of separating professional participation from ethical accountability [4].

The controversy also reflects growing investor wariness of unverified crypto projects. While Pica Coin’s delisting in 2021 initially limited its market impact, the ongoing legal proceedings have reignited concerns about the risks of opaque investments. The case serves as a cautionary example of how celebrity associations can amplify both the allure and the dangers of speculative assets [2]. As the trial progresses, observers will watch closely for insights into how courts balance personal conduct, corporate responsibility, and regulatory enforcement in crypto-related fraud cases.

Sources:

[1] [K-pop Star Park Gyuri of Kara Denies Crypto Wrongdoings as Ex-Lover’s Trial Continues](https://cryptonews.com/news/k-pop-star-park-gyuri-of-kara-denies-crypto-wrongdoings-as-ex-lovers-trial-continues/)

[2] [K-pop Star Park Gyuri of Kara Faces More Crypto Accusations as Ex-Lover’s Trial Continues](https://cryptonews.com/news/k-pop-star-park-gyuri-of-kara-denies-crypto-wrongdoings-as-ex-lovers-trial-continues/)

[3] [K-pop Star Park Gyuri of Kara Faces More Crypto Accusations as Ex-Lover’s Trial Continues](https://cryptonews.com/news/k-pop-star-park-gyuri-of-kara-denies-crypto-wrongdoings-as-ex-lovers-trial-continues/)

[4] [K-pop Star Park Gyuri of Kara Faces More Crypto Accusations as Ex-Lover’s Trial Continues](https://cryptonews.com/news/k-pop-star-park-gyuri-of-kara-denies-crypto-wrongdoings-as-ex-lovers-trial-continues/)