Park Gyuri, a well-known K-pop artist and founding member of girl group Kara, is caught up in a crypto scandal with her ex-boyfriend Song Ja-ho.
Song is on trial for his alleged role in the Pica Coin scam, a low-cap altcoin that portrays itself as an art-tech innovation.
Despite her testimony before the court last week that she was not involved in any illicit cryptocurrency activities, Park’s previous association with Pica as Advisor and Chief Communications Officer has reignited controversy anew.
She testified on oath that she was unaware of any wrongdoing and believed Pica Coin was a legitimate startup company committed to supporting artists and exhibitions.
Park Claims Innocence Amid Financial Losses and Legal Fallout
During her appearance in court, Park explicitly established that she had had dealings with Pica Coin purely on a professional basis, taking part solely in curatorials and publicity.
She claimed she was not involved in any form of token handling or price gouging.
Furthermore, she stated that she had spent 60 million won (approximately $43,566) of her own money on purchasing Pica Coin shares in April 2021, using proceeds from the sale of her Bitcoin assets.
However, her investment was reportedly lost within two months, as Pica was delisted from the Upbit exchange.
Park emphasized she never gained financially in any way by being associated with the coin and went out of her way to request not to be listed on Pica’s white paper.
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Counterclaims from Pica Coin’s CEO Cast Suspicion over Park’s Evidence
Nevertheless, Park’s account is being called into question by Pica Coin CEO Seong Hae-joong, who challenges her testimony regarding monetary loss and her level of awareness.
Seong made public statements that Park was actually paid 60 million won by Song in December 2021, contrary to her courtroom claims.
Seong even provided screenshots of a KakaoTalk exchange between Park where she allegedly discusses the payoff with Song, after she ended their affair in September of the same year.
The messages appear to show Park confirming the amount and inquiring about the term of the payment, questioning her claim that she lost everything in the business and did not benefit from it at all.
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Legal Pressure Mounts as Prosecutors Expand Case Against Song
Prosecutors have built a broader case against Song, indicting him on charges of fraud and breach of trust.
He was detained in 2023 for soliciting investments in works of art that he did not have legal rights to and allegedly manipulating the price of Pica Coin for his own gain.
While Park has denied any wrongdoing and maintains that her involvement was limited to a salaried position unrelated to crypto.
Investigators are now probing more intensely whether her position could have been more influential or lucrative than she initially reported.
Park’s agency, Big Boss Entertainment, declined to comment on grounds of confidentiality in the case.
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Celebrity Involvement in Crypto Fraud Cases Echo Global Trends
Park Gyuri’s case echoes a growing trend of celebrity involvement in crypto-related legal disputes, where former romantic partners become implicated in financial wrongdoing.
Similar examples include Iris Ramaya Au, ex-girlfriend of Los Angeles-based crypto entrepreneur Adam Iza, who pled guilty in March 2025 to laundering $2.6 million connected to large-scale fraud.
Another prominent case was that of Caroline Ellison, the former CEO of Alameda Research and business partner of co-founder Sam Bankman-Fried of FTX, who forfeited over $30 million in assets as part of a plea deal.
These cases reveal how romantic relationships and public opinion can obscure differences in high-risk financial ventures.
Park’s ongoing legal woes now add a high-profile K-pop star’s name to the growing roster of celebrity-tied crypto scandals.