South Korea raids Bithumb amid ex-CEO’s alleged $2M embezzlement
Prosecutors allege Bithumb’s former CEO used a $2 million company lease deposit to buy an apartment, though the exchange says he repaid the funds.
Update March 20, 10:50 am UTC: This article has been updated to add a Wu Blockchain report on Bithumb listings, claiming that multiple crypto projects paid intermediary fees to have their tokens listed.
South Korean prosecutors raided crypto exchange Bithumb following suspicions that its former CEO embezzled funds to purchase an apartment.
On March 20, Seoul’s Southern District Prosecutors’ Office reportedly searched Bithumb’s offices in the country.
