Hwang Jung-eum, a known South Korean actress, has been removed from a commercial and a television broadcast after admitting the allegations of embezzlement of $3 million in cryptocurrencies from her own agency.
In a Court appearance earlier this week Hwang Jung appeared in Jeju District Court where she admitted to misappropriating W4.34 billion from the agency she owns.
The media industry sensation, Hwang, has been charged under the Aggravated Punishment of specific crime in South Korea.
Following this, SBS Plus announced that Hwang footage has been cut from the final reality show, ‘Because I’m Single.’
In a public apology, Hwang said, “ I sincerely apologize for causing concern. I made the investment in hopes of growing the company, but it was a hasty and immature decision.”
The money that Hwang is accused actually belongs to her
The lawyer of Hwang said the money she is accused of actually being from her own earnings from the entertainment industry, further said that the crypto where held by her as the rules of the company restrict owning cryptocurrencies.
Her lawyer quoted, “ Since the company made money from her work, it really belongs to her.” The actress has sold some of her crypto holdings and is still planning to sell more property to pay the rest of the money.
The next hearing will be in August this year and despite this tussle she has been battling with a public divorce and trying hard to return to the industry.
Over the time celebrity and internet sensation has continued to embrace crypto and with this they had also faced severe allegations of committed frauds and scams.
Some foreign celebrities such as Mr.Beast and Kendra Lust, Soulja Boy, and Lil Yatchy. On the other hands, moguls like Michael Saylor and Cathie Wood has been criticised largely for their pro-crypto stance.
Crypto market price updates
With a bullish sentiment over weeks crypto market has continued to grow and when writing the market capitalization was $3.34 trillion with a surge of 3.01% in past 24 hours and the trading volume is $124.09 billion.
At the same time crypto fear and greed index was at 69 indicating a greed in the wider market and Bitcoin has been constantly trying to surpass the milestone of $109k as of writing it was trading at $105,211.
Ethereum grew around 5.21% reaching $2,521 and its market cap has added 5.32% in the intraday time frame.
According to the data from CoinMarketCap the intraday gainers list has been ruled by Aave which added 19.16% reaching $262.62 followed by Pendle and Maker including others.
