Three people in Hong Kong have been arrested for a scam involving fake Big Bang concert tickets.

According to Korean news outlet IMBC, the scammers promised to reserve tickets for the concert in exchange for advance payment from purchasers.

The three scammers were arrested on Thurs., Mar. 17.

In total, they scammed around 50 people out of the tickets, earning around 40 million won (~$34,300 USD).

The victims reported the crimes to the police as soon as they arrived to Seoul.

Currently, Hong Kong police believe that there could be many more victims of the fake ticket ring and have launched a wider investigation to uncover the truth.

Later on March 19, YG Entertainment responded to the issue, saying, "We hope that this type of issue will not happen again."

YG also requested that law enforcement officials do their part to prevent high-price ticket scalpers and scammers.

According to Korean news outlet MyDaily, tickets for Big Bang's concerts were sold out, so the scammers sold fake tickets along with fake concert posters to the victims.

The average price that each victim paid for a ticket was nearly $700. However, this is a normal price for scalpers of Big Bang tickets. At a recent Big Bang concert in Mexico City, tickets were reportedly being sold for $1000 a piece outside the concert venue.