Bithumb was raided by South Korean authorities today after it allegedly provided its former CEO with $2 million for an apartment deposit.
YTN reports that the Seoul Southern District Prosecutor’s Office conducted the raid on Bithumb’s Yeoksam-dong headquarters after Kim Dae-sik allegedly misappropriated 3 billion won to buy the property in Seoul.
The Financial Supervisory Service initially launched an investigation and handed it over to Seoul’s prosecutors.
Read more: Pictures from Singapore raid that seized $735M in crypto and other assets
Bithumb was raided back in 2023, along with Upbit, after a South Korean lawmaker used the exchanges to hold roughly $4.5 million worth of wemix coins.
The official was accused of trading cryptocurrency during parliamentary sessions and had voted in favor of various crypto legislation.
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The post Bithumb raided over former CEO’s $2M apartment purchase, report appeared first on Protos.
Source: https://protos.com/bithumb-raided-over-former-ceos-2m-apartment-purchase-report/