Bithumb CEO Lee Jae-won Named Bribery Suspect in Expanding Probe
- South Korean police have identified Bithumb CEO Lee Jae-won as a suspect in a bribery investigation.
- The investigation involves allegations of preferential hiring for the son of independent lawmaker Kim Byung-ki.
- Authorities are examining whether Kim targeted Bithumb’s competitor, Dunamu, to benefit Bithumb.
- A second raid at Bithumb’s headquarters led to Lee being formally designated as a suspect on June 8.
- Kim is under investigation for broader corruption allegations, including misuse of funds and accepting cash payments.
The ongoing investigation into Bithumb and its CEO highlights potential legislative manipulation by Rep. Kim Byung-ki to favor the exchange over its rival, Dunamu. The probe has expanded following new evidence from a second raid.
With Bithumb denying any wrongdoing, the focus remains on alleged quid pro quo arrangements involving employment favors for Kim’s family and aides in exchange for legislative benefits against competitors like Dunamu. (Source)
