Two Hyundai Group offices in Seoul were evacuated on Friday after a bomb threat email demanded 13 Bitcoin, equivalent to about $1.1 million, according to South Korean police. The threat prompted large-scale evacuations and security searches before being declared a hoax.
Police respond after a bitcoin threat email is sent to Hyundai offices
Authorities received a 112 emergency call at around 11:42 a.m. detailing the contents of an email sent to Hyundai Group. The message warned that explosives would detonate at Hyundai’s Yeonji-dong, Jongno-gu office at 11:30 a.m., followed by another explosion at the company’s Motor Group building in Yangjae-dong, Seocho-gu.
The email demanded a ransom of 13 Bitcoin and contained the message,
“If you don't give me 13 Bitcoins, I will blow up the Hyundai Group building at 11:30 a.m. and then take a bomb to Yangjae-dong and detonate it.”
Local media reported that Hyundai Group immediately evacuated staff from both buildings as police moved to secure the sites. Special operations units and bomb squads conducted thorough searches while surrounding streets were briefly restricted for safety.
After several hours, no explosives were found, and investigators determined the threat lacked credibility. Police confirmed that no ransom was paid and that all employees were safe. Both offices resumed operations after security teams completed their inspections.
A new wave of threats targets Korean corporations
Friday’s threat came amid a series of similar incidents reported throughout the week targeting some of South Korea’s largest technology and telecommunications firms.
On Thursday, posts appeared on the Kakao customer service bulletin board claiming that bombs had been placed at Samsung Electronics’ headquarters in Yeongtong-gu, Suwon, and at Kakao’s Pangyo office and Naver’s main building.
The day before, on Wednesday, a threat was made through KT’s online subscription form claiming that an explosive device had been planted at KT’s Bundang office in Seongnam, according to KoreaTechDesk. Police responded by clearing the building and conducting safety searches but found nothing suspicious.
Authorities have treated the incidents as a coordinated series of digital extortion attempts. Cybercrime investigators believe the perpetrators are attempting to exploit public fear to extort Bitcoin payments but have not demonstrated any real capability or possession of explosives.
Police said ongoing investigations are focused on tracing the origins of the emails and posts. Early assessments suggest the threats may have been distributed through international servers to obscure the sender’s identity.
Crypto and ransom-related threats under global scrutiny
South Korea’s recent wave of Bitcoin-related threats resembles global incidents where attackers used cryptocurrency to demand ransom while instilling fear through fake bomb threats.
According to local outlet MBN, the Hyundai Group threat follows earlier cases across Asia and other regions. Past incidents include a 2020 bomb threat in Japan, where an attacker claimed to have placed bombs in churches and schools while demanding 40 BTC, and a broader 2018 global campaign that targeted multiple organizations with Bitcoin ransom threats, prompting intervention from the U.S. National Cybersecurity and Communications Integration Center.
Crypto-related violence and extortion have grown alongside Bitcoin’s market surge. Casa CTO Jameson Lopp documented over 65 so-called “wrench attacks”, physical assaults aimed at stealing cryptocurrency, in a public database tracking global cases.
In November, a man in St. Petersburg, Russia, set off airsoft grenades and smoke bombs at a local crypto exchange. Around the same time in San Francisco, a disguised assailant restrained a homeowner and stole about $11 million in digital assets. Earlier this month, Austrian authorities arrested two suspects who allegedly beat and burned a man thought to have withdrawn funds from a crypto wallet.
Investigations continue into Hyundai threat origin
Seoul police said investigations will continue to determine whether the Hyundai threat and other recent cases are connected. No arrests have been made so far. Officers urged companies to maintain vigilance and report any suspicious communication promptly.
Although no explosives have been found, authorities stated that the increasing frequency of such Bitcoin-related extortion attempts highlights a growing cybersecurity concern for corporations and public institutions nationwide.
Roman Zaika
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