Crypto Influencer’s “Spend the Night with a BTC Holder” Stunt Turns Scandalous Amidst Extortion Allegations

A viral crypto influencer’s attention-grabbing “spend the night with BTC holders” stunt has dramatically shifted into a darker narrative, as Chinese media draws connections between her online persona and a real-life extortion case.

Recent reports from Sina Finance unveiled a chilling incident from 2024: a software engineer in Chengdu was reportedly ambushed and robbed of 6 BTC by a criminal gang. This group allegedly operated under the guise of a female crypto trader named “Bitcoin Cong’er.”

According to reports, the group lured the victim through an X profile, promising intimate encounters after establishing online communication over several months. Upon agreeing to meet at a luxurious Chengdu hotel, the perpetrators allegedly used fabricated evidence to threaten the victim’s reputation, ultimately extorting a 6 BTC transfer.

Sina Finance further reports that police are currently investigating the incident and have issued public warnings regarding similar scams targeting individuals in the crypto space.

This news quickly sparked widespread speculation, especially since just days prior, a Mandarin-speaking social media personality known as BTCconger, previously LisaaBuilder, had gone viral for a remarkably similar publicity stunt.

On March 20, the BTCconger account posted on X, inviting users to share their Bitcoin addresses in the replies. She boldly declared she would “spend the night” with anyone holding at least 0.1 BTC — “no fees, no strings attached.” Adding an unusual twist, she even called the post a “suicide letter,” suggesting she was dedicating herself to Bitcoin holders and believers. This tweet quickly garnered over 2 million views.

BTCconger seemed to double down on the stunt, sharing photos and videos that appeared to show her meeting followers and traveling to Bangkok. In one tweet, she posted a selfie taken in a hotel mirror, with a condom visibly placed on the table, along with a claim that someone hadn’t shown up as promised. Another video showed her sitting on a bed with three men, reciting sections of the Bitcoin white paper, some parts in unison.

Reactions to her campaign were varied. Some X users engaged lightheartedly, sharing wallet addresses. Others praised it as an entertaining and shrewd approach to gaining attention. Concerns for her safety were raised by some users urging her to reconsider, while several female voices criticized the stunt for reinforcing harmful stereotypes about women in the crypto industry.

However, the situation took a serious turn when the Sina Finance article emerged, bringing BTCconger’s campaign under intense scrutiny. The report notably included a screenshot of one of her very tweets.

In response to the escalating accusations, BTCconger participated in a live-streamed interview on March 26 with local content creator Robert Lee. She firmly denied any connection to the Chengdu extortion case. She stated she was currently in Shenzhen, mainland China, arguing that if she were involved in criminal activity, she would have already been arrested. She also highlighted that the extortion incident occurred earlier in 2024, while her account’s rebranding from LisaaBuilder to BTCconger was recent. BTCconger mentioned she has gathered notarized evidence and intends to file a formal report to defend her reputation.

BTS’s Agency HYBE Reconsiders Blockchain Ambitions, Reportedly Shutting Down Subsidiary

HYBE, the entertainment powerhouse behind the globally recognized K-pop group BTS, is reportedly pulling back on its blockchain initiatives following a brief and unsuccessful venture. As reported by News1 on March 27, HYBE is planning to absorb its blockchain subsidiary, Binary Korea, signaling a retreat from direct involvement in Web3 projects.

Binary Korea was established in 2022, forming a key part of HYBE’s broader strategy to explore the digital creator economy. This move followed HYBE’s 2021 partnership with Dunamu, the operator of Upbit, which included plans to launch BTS non-fungible tokens (NFTs). However, these plans were ultimately abandoned after facing widespread criticism.

Even without venturing into blockchain, BTS’s merchandise empire was incredibly successful. From the sensation of the sold-out McDonald’s BTS meal in 2021 to the immense popularity of the Map of the Soul tour merchandise – even after the tour’s pandemic-related cancellation – BTS products have consistently generated massive revenue. Spin-off ventures like TinyTAN, animated characters inspired by the group, have become prominent brands in their own right, adorning everything from stationery and tech gadgets to home appliances.

However, the NFT announcement was met with strong opposition from ARMY, BTS’s devoted fanbase, who voiced concerns regarding the environmental impact and the potential over-commercialization of the group’s image.

While HYBE ultimately did not launch BTS NFTs, they proceeded with other blockchain endeavors, including a US-based joint venture with Dunamu named Levvels. This venture launched Momentica, an NFT platform featuring other HYBE artists – notably excluding BTS. Without the immense draw of BTS, the platform struggled to achieve significant user engagement.

Financial results for Binary Korea in 2023 revealed a modest revenue of just 468,000 Korean won (approximately $350 USD) and a substantial net loss of 4.28 billion Korean won (around $3.2 million USD), according to News1. Another HYBE platform, THEUS, also reportedly underperformed despite a recent Coinbase partnership aimed at incorporating blockchain-based fan engagement tools.

A HYBE spokesperson, as quoted by News1, minimized the significance of the reported scaling back and pointed out that the decision is not yet officially finalized.

Japan Proposes Joint Effort with US on Global Crypto Token Standards

A recently unveiled proposal from Japan calls for a collaborative partnership between the US and Japan to regulate tokenized assets and shape the future of the global Web3 economy. This five-part plan, submitted to US Securities and Exchange Commission Commissioner Hester Peirce, outlines a strategy for harmonizing digital asset regulations, mutually recognizing compliant offerings, and establishing secure testing environments for blockchain startups.

This collaborative initiative, presented in a five-part plan by Hinza Asif, president of the Asia Web3 Alliance Japan, recommends a joint US-Japan regulatory program centered around five key objectives.

In the letter, dated March 25th and addressed to Commissioner Hester Peirce in her role as chair of the SEC’s Crypto Task Force, Asif emphasizes the increasing challenges faced by Web3 startups in Japan. Despite considerable interest in blockchain and tokenization across various sectors, from real estate to loyalty programs, Asif notes that many projects are being hindered by regulatory ambiguity and inconsistent application of tax and securities laws.

Presently, Japanese regulations lack a clear framework for token offerings, leaving startups vulnerable to potential regulatory overreach. Meanwhile, the US has made progress with discussions around safe harbor provisions and efforts to categorize digital assets. Asif suggests that this approach could serve as a valuable model for international regulatory cooperation.

Circle’s USDC Stablecoin Expanding its Reach Across Asia

Circle’s USDC stablecoin is rapidly expanding its presence in Asia, marked by two significant developments in Japan and the Philippines.

The company recently announced the launch of USDC in Japan on March 26th through the SBI VC Trade crypto exchange. This listing follows regulatory approval granted on March 4th, which positioned SBI VC Trade as the first exchange in Japan authorized by the Financial Services Agency to list USDC under the nation’s stablecoin regulatory framework.

Further solidifying its Asian expansion, Circle has also teamed up with GCash in the Philippines, the country’s most popular digital wallet, to integrate USDC support for its nearly 100 million users.

As GCash expands its suite of financial services, discussions around a prospective initial public offering (IPO) continue to generate interest. Globe Telecom CEO Ernest Cu, whose company holds a stake in GCash through its parent company Mynt, affirmed in a February press conference that an IPO is still under consideration. However, he indicated that the company aims for a smaller public float than the current 20% minimum required by the Philippine Stock Exchange and the local SEC.

Reports suggest GCash might be targeting a valuation of at least $8 billion for its IPO. While Cu mentioned there’s no definitive timeline for a public listing, the SEC has expressed its support for a GCash IPO and is open to considering a formal request for an exemption from the full public float requirement, potentially smoothing the path for the fintech leader to go public.

While USDC advances in markets prioritizing regulatory adherence, its primary competitor, Tether’s USDT, is facing headwinds in the European Union. Several exchanges have delisted USDT in response to the new Markets in Crypto-Assets (MiCA) regulation. However, Tether is also making progress, announcing ongoing discussions with a Big Four accounting firm to conduct a long-awaited comprehensive financial audit.

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Yohan Yun

Yohan Yun is a multimedia journalist covering blockchain since 2017. He has contributed to crypto media outlet Forkast as an editor and has covered Asian tech stories as an assistant reporter for Bloomberg BNA and Forbes. He spends his free time cooking, and experimenting with new recipes.