Bitcoin Ransom Threat Targets Hyundai Group in Seoul

Bomb threat emails demanding bitcoin forced evacuations at Hyundai offices, highlighting a growing wave of crypto-linked extortion threats in South Korea.

South Korea’s Hyundai Group faced a serious security scare on December 19. Therefore, employees were evacuated from major Seoul offices in the aftermath of a bomb threat. The email was demanding payment in Bitcoin. Authorities later said the threat was a hoax. However, the incident heightened concerns about the increasing digital extortion of large corporations.

Hyundai Offices Evacuated After Bitcoin Ransom Threat

According to police, the caller said there was a threatening email sent to Hyundai Group. The message said a bomb would explode at the Yeonji-dong headquarters at 11:30 a.m. Additionally, the message threatened a second bomb explosion at Hyundai Motor Group’s Yangjae-dong office.

The sender held the victim in a ransom situation demanding 13 bitcoins. At today’s prices, the amount is equivalent to about $1.1 million. Following the report, special forces were deployed by police. Search teams went through both buildings thoroughly. No explosives or suspicious articles were discovered.

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As a result, the authorities rated the threat as low credibility. Even so, Hyundai Group evacuated employees as a precaution. Employees moved out of offices in Jongno-gu and Seocho-gu without any delay. Business operations were interrupted for a while during the search.

Police officials said that the investigations are still active. They are tracing back the origin of the email and possible connections with earlier threats. So far, there have been no publicly identified suspects.

Wave of Hoax Threats Raises Security Concerns

Importantly, the Hyundai incident is not an isolated experience. South Korea has experienced an influx of similar threats of late. Just a day before, a post was made in Kakao’s customer service board. It threatened to bomb the headquarters of Samsung Electronics. The message also referred to violence against Samsung’s chairman.

Earlier in the week, KT’s Bundang office was the target of a bomb threat posted on the Internet. That threat caused evacuations and emergency responses. In addition, Kakao’s Jeju headquarters and Pangyo office were also issued similar warnings. Naver offices were also under attack.

Authorities suspect these incidents constitute a pattern. The threats blend digital platforms with offline intimidation. Although no explosives have been found, public anxiety is on the rise. Each alert requires an expensive emergency response.

Police have launched several investigations in various areas. Cybercrime units are liaising with counter-terror units. “It’s still difficult to trace anonymous digital threats,” officials say. However, they emphasize that each report is taken seriously.

Beyond immediate security risks, the incidents point to evolving extortion tactics. There has been an increase in the use of cryptocurrency references by criminals in ransom demands. Bitcoin is often used because of its level of reach in the global market. Still, authorities point out that blockchain transactions can be traced.

The Hyundai threat also highlights corporate cybersecurity worries. While this email attack was external, there are ongoing risks of reputational and operational attacks. Big companies are rethinking threat response protocols. Some are increasing coordination with law enforcement.

Meanwhile, South Korean officials discuss policy responses. Lawmakers are considering harsher measures on crypto-related crimes. Regulators want to improve monitoring and enforcement frameworks. These efforts could make progress by the middle of 2026.

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