What to know:
Hyundai received bomb threat emails demanding 13 Bitcoin; police searches found no explosives.
The incident can be a part of a wider wave of similar threats targeting major South Korean companies like Samsung, Kakao, KT and Naver.
Experts warn the case reflects a growing trend of fear-based crypto extortion, where threats are used to demand crypto.
Hyundai Group and Hyundai Motor Group became the latest targets in a growing wave of bomb threats against major companies after threatening emails demanded payment in Bitcoin to stop attacks on their offices in Seoul.
According to police, the threat was reported on December 19 at around 11:42 a.m. The email warned that if the sender did not receive 13 Bitcoin, explosions would be carried out at Hyundai Group’s headquarters in Jongno District, followed by another attack at Hyundai Motor Group’s office in Yangjae-dong, Seocho-gu. Police immediately responded by deploying special forces and emergency teams to both locations. After a full search, authorities confirmed that no explosives were found.
What the Threat Said
The email was blunt and alarming. It reportedly said, “If you do not 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.”
Hyundai Group shared the message internally with management and employees and quickly contacted the police. Searches were carried out at the Jongno building in Yeonji-dong as well as the Hyundai Motor Group office in Seocho District.
South Korea recently added a new crime called public intimidation, which allows courts to sentence offenders to up to five years in prison or fine them up to 20 million won. Repeat offenders can face even harsher penalties. However, critics say the law has had a limited effect so far. Even without real bombs, the impact on companies is serious. Offices have been evacuated, employees sent home, and work shifted online.
Larger Wave of Threats in Korea
The Hyundai threat is not an isolated case. Over the past week, several major South Korean companies have received similar bomb threats. Just one day earlier, a post appeared on Kakao’s customer service board claiming that Samsung Electronics’ headquarters would be attacked and even threatening violence against Samsung’s chairman. On December 17, a message posted on KT’s website claimed a homemade bomb had been planted at its Bundang office.
Kakao’s Jeju headquarters, its Pangyo office, Naver’s headquarters, and other corporate buildings have also been targeted. Each time, police searches found no explosives, but evacuations and work stoppages followed. Since December 15, police say reports of explosive threats against large corporations have been pouring in, creating widespread anxiety despite the lack of real devices.
Fear-Based Extortion
The demand for Bitcoin in the Hyundai case has raised concerns about a type of crime that uses fear instead of hacking. Rather than breaking into systems, attackers rely on threats of violence to force payments.
Security experts often compare this to what is known as a “wrench attack,” where criminals threaten physical harm to force someone to hand over crypto funds. In recent months, several serious incidents around the world have shown how this kind of crime is growing. In France, the family members of a well-known crypto executive were nearly kidnapped in broad daylight in Paris, with attackers reportedly aiming to force a crypto payout. In another French case earlier this year, the father of a crypto entrepreneur was abducted and held for ransom, suffering severe injuries before police rescued him.
In the United Kingdom, crypto holders have been robbed at knifepoint in their homes, with victims forced to transfer Bitcoin directly from their wallets. Similar cases have been reported in the United States, where organized crime groups carried out home invasions to steal hardware wallets, and in Canada, where criminals posed as police officers to enter homes and steal millions of dollars’ worth of cryptocurrency.
What’s Next?
Police say they are actively investigating the Hyundai email along with other recent threats. Authorities are trying to trace the messages and identify whether the incidents are linked.
For now, no arrests have been announced, and no Bitcoin payments have been made. As crypto becomes more common, experts warn that fear-based extortion may continue to grow, pushing companies and governments to rethink how they protect people, buildings and digital money at the same time.
