Bithumb Exchange’s Offices Raided Again by Korean Authorities: Report
South Korean officials are said to have raided the offices of cryptocurrency exchange Bithumb for a second time in a week.
- The Seoul Newspaper reported Tuesday that the Seoul Metropolitan Police Agency’s Intelligent Crime Investigation Unit had entered Bithumb’s Seoul headquarters and seized evidence relating to a fraud investigation.
- The raid was again linked to a $25 million token sale hosted on Bithumb and a proposed acquisition by a Singapore platform, BTHMB, that never materialized.
- Some investors have reportedly lost millions and Bithumb’s chairman, Lee Jung-hoon, has been accused of fraud and illicitly sending funds overseas.
- Bithumb, one of the largest exchanges in South Korea by trading volume, was raided for the first time last Wednesday.
- Authorities this time targeted the offices relating to Bithumb Holdings, the parent of Bithumb Korea, which operates the Bithumb exchange.
- “Everything is going fine,” Bithumb told CoinDesk when contacted for comment.
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
https://www.coindesk.com/bithumb-offices-raided-again-korean-authorities
