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Despite claiming she neither profited from nor was involved in her ex-boyfriend’s cryptocurrency business, singer and actress Park Gyu-ri of the girl group KARA is now facing allegations that she was financially compensated for her losses.

On July 22, iMBC reported that Park was reimbursed for a 60 million won ($44,000) loss and earned tens of millions of won through the sale of cryptocurrency.

Previously, Park appeared as a witness at a trial held at the Seoul Southern District Court on July 16, where she testified, “While I was involved in some parts of CEO Song’s business, I had no role in illegal coin schemes or market manipulation.” She added that she worked with the Pica Project simply due to her love of art and denied any direct link to PicaCoin. Park reportedly worked for one year as a curator and PR manager, earning about 40.7 million won in salary.

She also stated that she invested 60 million won in PicaCoin in April 2021 but lost the entire amount when the coin was delisted two months later.

However, representatives from the Pica Project refuted her testimony, claiming that not only was Park fully reimbursed for her loss, but she also earned substantial profits from selling PicaCoin.

Pica Project CEO Sung Hae-joong said, “Park invested 60 million won in PicaCoin on her own. The price plummeted after Upbit ended trading support, not due to internal fraud or manipulation. Still, CEO Song personally returned the full amount to her out of pity, even though they had broken up in September 2021.” He claimed Song gave her the money in December that year, despite having no obligation to do so.

Sung also revealed a message exchange between the two from December 8, 2021. In the messages, Park asked Song, “When can I expect the deposit?” to which he replied, “By the end of this month,” and asked to meet at 1 p.m. Park then responded, “It’s not 50 million won but 60 million in total. I’ll let you know about any difference later. Thanks for caring.”

Sung added that Park received an additional 60 million won worth of gifts during her relationship with Song, including a luxury watch worth 30 million won, luxury bags and shoes worth 20 million won, and a 10 million won cashier’s check. He also claimed that Park profited from PicaCoin sales, receiving about 26 million won in proceeds.

Park’s agency declined to comment, stating, “This is a personal matter.”

Meanwhile, CEO Song was indicted in July 2023 on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes, embezzlement, obstruction of business, and violations of the Capital Markets Act. He is accused of manipulating the value of PicaCoin and embezzling approximately 33.9 billion won by attracting investors with nonexistent art assets.