Amidst an escalating scandal in the realm of digital currency, popular K-pop figures Choi Si-won of Super Junior fame and former Rainbow member Cho Hyun-young have firmly distanced themselves from any involvement with the blockchain sports platform Winnerz and the so-called “scam coins” associated with it.

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• K-pop stars Choi Si-won and Cho Hyun-young firmly reject any involvement with the Winnerz platform and related cryptocurrency scams.
• The Youth Pay (TYP), a cryptocurrency under scrutiny, has seen its value collapse and is at the center of the allegations involving K-pop celebrities.
• Legal action is being considered by Cho Hyun-young against the Korea Youth Committee officials, as both she and Choi Si-won work to clear their names.

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K-pop Luminaries Choi Si-won and Cho Hyun-young Clear the Air on Cryptocurrency Scandal Allegations

The scandal gained traction as prominent South Korean internet celebrities and influencers faced accusations from anonymous crypto investors, who have described Winnerz as engaging in “multi-level marketing fraud.

Choi and Cho, who have transitioned into successful YouTubers with substantial followings, have been implicated in a related controversy involving The Youth Pay (TYP), an Ethereum-based cryptocurrency. The Korea Youth Commission, the creators of TYP, purportedly designed the coin to influence youth policy initiatives. The awarding of certificates by the Commission to Choi and Cho in 2022 has led to public conjecture about their possible endorsement of the coin.

Nevertheless, TYP’s value has collapsed since its introduction in March 2022 and its listing on an overseas exchange. Images have surfaced depicting Cho in the company of a TYP-linked individual, prompting further speculation concerning her association with the coin.

The link between Winnerz’s alleged scam operations and The Youth Pay is presently ambiguous. However, recent arrests by Gimpo police, particularly in the case of a soccer-themed coin called Golden Goal (GDG), suggest wider implications. Choi Seung-jung, reportedly connected to both GDG and Winnerz, has been identified in relation to these matters.

Choi Si-won took to his YouTube Community tab to categorically deny involvement with The Youth Pay or the surrounding disputes. He emphasized that his recognition by the Korea Youth Committee was solely for serving as a commendable role model for the youth, a distinction completely separate from the current controversy.

Cho acknowledged her ambassadorship for the Korea Youth Committee but refuted any promotion of The Youth Pay and disavowed any relationship with the individual with whom she was photographed. She is contemplating legal action against the Korea Youth Committee officials and is consulting with legal professionals.

Both stars are adamant in their declarations of innocence and are proactively refuting the charges laid against them. 

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