South Korean authorities have launched an investigation into local cryptocurrency exchange Bithumb, adding to the firm’s legal problems.
Law enforcement executed a search and seizure at Bithumb’s headquarters in Seoul in connection with the investigation, South Korean newspaper Chosun Daily reported Wednesday, citing a statement from the Seoul Southern District Prosecutors’ Office. The case involves allegations that former Bithumb CEO and advisor Kim Dae-sik used company funds to pay a $2 million security deposit for his personal apartment rental.
Bithumb did not immediately reply to Decrypt’s request for comment sent outside of South Korean business hours.
The company commented on the investigation to Chosun Daily on Wednesday.
“Some…
Jun 16 2025
