Market News

South Korea Faces Rising Bitcoin Extortion Threats: Hyundai Evacuated Amid Ransom Demand

Hyundai Group's Seoul offices were evacuated after receiving a bomb threat demanding a ransom of 13 Bitcoin, equivalent to approximately $1.1 million.

The threat, sent via email, specified two Hyundai locations and set a deadline for the payment, prompting swift safety measures on December 20, 2025.

Local law enforcement swiftly mobilized special units, evacuating staff and closing off the vicinity as bomb squads conducted thorough sweeps.

Fortunately, no explosives were discovered during the searches, and authorities confirmed that no Bitcoin payment was made.

This alarming incident is not an isolated case; reports indicate that other major South Korean companies, including Samsung and Kakao, have received similar threats recently.

Authorities suspect many of these threats are intended to incite panic rather than correspond to genuine plans.

Evidence is being gathered digitally, as investigators work with cyber units to trace the origins of these threatening communications.

There has been a noted increase in ransom demands tied to cryptocurrencies in South Korea, largely due to their anonymity and ease of cross-border transactions.

Experts are now integrating physical security protocols with blockchain analysis to track potential financial trails left by perpetrators.

Hyundai has acknowledged the evacuation and acknowledged emergency services' quick response but has refrained from providing further comment on the investigation's specifics.