Two Hyundai Group office buildings in Seoul were evacuated on Friday following an anonymous bomb threat demanding a Bitcoin ransom, South Korean media reported.
The incident triggered a swift law enforcement response, though no explosives were found.
Local broadcaster MBN reported that the threat came in a phone call to police earlier in the day.
The caller allegedly claimed that explosives had been placed at Hyundai Group offices and warned of imminent detonations unless 13 Bitcoin—worth over $1 million at current market rates—were paid.
Authorities treated the threat as credible and ordered the immediate evacuation of the buildings, launching a thorough security sweep.
Special police units conducted inspections of the premises and surrounding areas, temporarily disrupting operations and raising security measures in the district.
After a comprehensive search, officials confirmed that no bombs or suspicious devices were discovered.
No injuries were reported, and employees were allowed to return to work once authorities issued the all-clear.
The Hyundai threat comes amid a spate of bomb threats targeting major South Korean companies in recent days.
MBN noted that Samsung Electronics facilities were threatened on Thursday, while a domestic telecommunications firm received similar warnings earlier in the week.
It remains unclear if those incidents also involved cryptocurrency ransom demands, and authorities have not publicly linked the cases.
While alarming, Bitcoin has increasingly appeared in extortion schemes involving alleged explosives.
In 2020, Japanese authorities responded to threats against churches and schools that demanded Bitcoin payments, and similar ransom attempts were reported in the United States in 2018, highlighting the growing use of digital assets in criminal extortion.
The latest incident also raises concerns about real-world violence connected to cryptocurrency wealth.
As Bitcoin prices have reached record highs, cases of coercion targeting holders of digital assets have reportedly increased, with security experts documenting home invasions and assaults linked to crypto theft worldwide.
Recent months have seen several high-profile cases underscoring these risks, including attacks on crypto exchanges and individuals believed to hold substantial digital assets.
Law enforcement agencies in Europe, Asia, and North America have warned that rising crypto valuations may continue to attract criminal activity extending beyond the digital space.
South Korean police have not confirmed whether any suspects have been identified in the Hyundai case.
Investigations are ongoing as authorities work to determine the source of the call and whether it is connected to the recent string of threats against major corporations.
