South Korean Court Orders YouTuber Choi Seung-jung to Repay 20 Million Won in Golden Goal Coin Case

A South Korean court has ordered YouTuber Choi Seung-jung to repay a victim’s full 20 million won investment, plus interest, in a civil lawsuit linked to the Golden Goal coin case, according to an exclusive JTBC report.

The ruling, issued in February, represents a significant legal setback for Choi, who is also facing criminal fraud charges involving tens of billions of won.

Details of the Golden Goal Coin Civil Lawsuit

The victim invested 20 million won in 2021 after Choi allegedly promised to protect the principal and secure a cryptocurrency exchange listing. Neither the listing nor a refund materialized, prompting the victim to file a damages lawsuit last year.

During the civil proceedings, Choi reportedly argued that he was also a victim of the scheme. The court rejected that defense and ordered him to repay the investment in full, along with interest.

Legal experts say the ruling could have wider implications for other investors seeking compensation. Hong Pureun, managing partner at Descent Law Office, said the judgment is being used as favorable evidence in other ongoing lawsuits against Choi.

The decision could therefore help other defrauded investors pursue compensation by strengthening claims related to Choi’s alleged conduct.

Criminal Fraud Trial and Concerns Over Choi’s Assets

Choi’s legal problems extend beyond the civil case. He has been indicted on allegations of fraud involving tens of billions of won, and his criminal trial is ongoing.

One Golden Goal coin victim has raised concerns that Choi may have already moved substantial funds after asset checks reportedly found nothing. The issue has created uncertainty over whether victims will actually be able to recover their investments, even if they win their lawsuits.

The next hearing in Choi’s criminal case is scheduled for October 23. The outcome of both the civil and criminal proceedings will be closely watched by South Korea’s cryptocurrency community, where investor protection has become a major concern following several high-profile fraud cases.

What the Ruling Means for Cryptocurrency Investors

The case highlights the risks of cryptocurrency investments promoted by influencers and social media personalities. It also reinforces the legal risks associated with claims involving guaranteed returns, principal protection or promised exchange listings.

For victims of similar schemes, the civil judgment offers a potential legal path to compensation. However, the reported concerns about Choi’s assets show that winning a lawsuit does not necessarily guarantee the immediate recovery of funds.

Investors should conduct thorough due diligence before relying on investment advice from online personalities, particularly when an opportunity includes promises of guaranteed returns or a rapid cryptocurrency exchange listing.

Frequently Asked Questions

What is the Golden Goal coin case?

The Golden Goal coin case involves allegations of fraud against YouTuber Choi Seung-jung and others. They reportedly solicited investments in a cryptocurrency called Golden Goal coin while promising high returns and exchange listings that never materialized. The allegations have led to both civil and criminal proceedings.

Can other victims use the civil ruling in their lawsuits?

According to legal experts, the ruling is being used as favorable evidence in other ongoing lawsuits against Choi. It may help establish a pattern of allegedly misleading conduct and support other victims’ claims.

What should investors do if they suspect cryptocurrency fraud?

Investors who suspect fraud should preserve all communications and transaction records, report the matter to financial regulators or law enforcement, and consider seeking legal advice. They should also be cautious about investment opportunities that guarantee returns or promise quick exchange listings.

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