South Korean Prosecutors Raid Bithumb Over Allegations of Ex-CEO Embezzling Funds From Exchange

South Korean Prosecutors Raid Bithumb Over Allegations of Ex-CEO Embezzling Funds From Exchange

Prosecutors in South Korea have launched an investigation into Bithumb, one of the country's largest cryptocurrency exchanges, over claims that company funds were improperly used to assist a former executive in purchasing an apartment.Officials from the Seoul Southern District Prosecutors’ Office raided Bithumb’s headquarters in Yeoksam-dong and other locations on Wednesday., according to local media report.Wu Blockchain reported that some proje…

Bithumb HQ Raided as Ex-CEO Faces Misuse of Funds Allegations

The post Bithumb HQ Raided as Ex-CEO Faces Misuse of Funds Allegations appeared on BitcoinEthereumNews.com. South Korean prosecutors have raided Bithumb’s offices over allegations that former CEO Kim Dae-sik misused company funds for personal real estate, adding further complications to the exchange’s IPO ambitions. Prosecutors Launch Investigation Into Fund Misuse Authorities in South Korea have raided the headquarters of cryptocurrency exchang…

Bithumb Lists ACX, the Cross-Chain Protocol, as Price Surges 44% in 24 Hours: Next Stop $0.71?

South Korea’s second-largest exchange adds Across Protocol to its KRW market ACX/KRW trading begins March 22, 2025, at 6 PM local time ACX has gained 44% in 24 hours, eyeing the $0.71 mark after its newest funding South Korea’s second-largest cryptocurrency exchange, Bithumb, has announced the listing of Across Protocol (ACX) on its KRW market.  Across Protocol operates as a decentralized cross-chain bridge, designed for secure and efficient tra…

South Korea Investigates Foreign Crypto Exchanges for Operating Without Registration

South Korea is investigating foreign crypto exchanges for carrying on with operations without proper registration. Bithumb is facing a probe over allegations of embezzlement linked to its former CEO Kim Dae-sik. South Korea is planning stronger rules and tighter anti-money laundering measures. South Korean regulators are considering actions against foreign cryptocurrency exchanges they say illegally operated in the country. Local media reported …

South Korean Prosecutors Investigate Bithumb Exchange for Alleged Fund Misuse

TLDR South Korean prosecutors raided Bithumb’s headquarters on March 19 investigating potential corporate fund misuse Former CEO Kim Dae-sik allegedly used a 3 billion won ($2.3 million) company lease deposit to purchase a personal apartment Bithumb acknowledged the allegations, stating Kim took an external loan after the initial investigation and has repaid the funds The raid comes amid Bithumb’s push toward an IPO planned for 2025 Separate al…

Ex-Bithumb CEO Accused of Misusing Company Money

Bithumb , a South Korea-based cryptocurrency exchange, is under investigation following claims that a former executive used company funds for personal reasons.