Bithumb raided in $2M apartment probe of ex-CEO
South Korean crypto exchange Bithumb found itself in the crosshairs of authorities today, as it was raided over allegations of providing its former CEO with a cool $2 million for an apartment deposit.
According to a report from YTN, Seoul Southern District Prosecutor’s Office officials carried out the raid at Bithumb’s Yeoksam-dong headquarters. The reason? Allegations that former CEO Kim Dae-sik supposedly misused a hefty 3 billion won to snag the Seoul property.
The investigation initially kicked off with the Financial Supervisory Service, before being passed along to the Seoul prosecutors.
Dive deeper: Pictures from Singapore raid that seized $735M in crypto and other assets
It’s worth remembering that Bithumb, alongside Upbit, also faced a raid back in 2023. That time, it was after a South Korean lawmaker reportedly used the exchanges to hold around $4.5 million in wemix coins.
The official in question faced accusations of trading crypto while in parliamentary sessions and, notably, had voted in favor of crypto-related laws.
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The post Bithumb raided over former CEO’s $2M apartment purchase, report appeared first on Protos.
