Seoul Police Conduct Second Raid on Bithumb HQ in Corruption Probe
- Seoul police raided Bithumb’s Gangnam-gu offices on June 8, marking the second search since February.
- The investigation targets lawmaker Kim Byung-ki, who faces allegations of using his position to secure a job for his son at Bithumb.
- Kim has been summoned by police approximately seven times over a nine-month inquiry involving multiple suspicions, including nomination bribery.
- Bithumb, a top exchange globally and second in South Korea, logged around $576 million in trading volume recently.
- Bithumb denies any irregularities in the hiring process for Kim’s son, asserting standard procedures were followed.
Seoul police conducted their second raid on Bithumb headquarters as part of an ongoing investigation into lawmaker Kim Byung-ki’s alleged misuse of power to benefit his son’s employment at the exchange. Despite repeated summonses and numerous suspicions against Kim, no formal charges have been announced yet.
The raid underscores the seriousness with which authorities are pursuing this case, highlighting ongoing concerns about potential corruption within South Korea’s financial oversight bodies and cryptocurrency sector.(Source)
