South Korean police booked Bithumb CEO amid bribery investigation allegations. Investigators reviewed hires involving lawmaker’s son and political aide. Authorities conducted searches while e
Bithumb CEO Lee Jae-won is under police investigation in South Korea over allegations that hiring decisions at the crypto exchange were tied to requests from a National Assembly member. Authorities are examining whether the employment of the lawmaker’s son and political aide was connected to legislative actions that may have benefited Bithumb.
According to Yonhap, the Seoul Metropolitan Police Agency’s Public Crime Investigation Unit has booked Lee and Bithumb as suspects in a bribery-related case involving independent lawmaker Kim Byung-kee. The investigation centers on claims that the exchange hired individuals linked to the politician while he held a position with influence over financial policy matters.
Investigators reportedly obtained testimony from Kim’s former aide, who stated that the lawmaker asked Lee in November 2024 to hire his second son. Two months later, Kim’s son joined Bithumb and remained employed at the exchange for six months, according to local media reports. Authorities are also reviewing the hiring of one of Kim’s aides. Reports indicate that the aide joined Bithumb in September last year and continues to work at the company.
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The probe has expanded beyond hiring decisions as investigators examine interactions between Kim and the cryptocurrency exchange. Police are reviewing whether any benefits were exchanged through employment arrangements and political activities.
According to allegations cited by local media, Kim carried out legislative activities targeting Dunamu, the operator of rival crypto exchange Upbit. Those activities reportedly included raising concerns about Upbit’s market dominance while serving on the National Assembly’s Financial Affairs Committee.
Moreover, investigators are assessing whether those actions were linked to requests involving the employment of Kim’s son and aide. Authorities have not announced any formal charges against the lawmaker, and the investigation remains active.
Police have spent months examining the relationship between Kim and Bithumb. During that period, investigators conducted two separate search and seizure operations as part of the case. Consequently, the investigation has attracted considerable attention within South Korea’s cryptocurrency industry. The case involves one of the country’s largest digital asset exchanges and a sitting member of the National Assembly.
Regulators and lawmakers have increased oversight of the crypto sector in recent years. As a result, developments involving major exchanges often receive close scrutiny from both authorities and market participants. In conclusion, police continue to investigate whether employment decisions at Bithumb were connected to political actions involving Kim Byung-kee, while the bribery case against Lee Jae-won and the exchange remains under review.
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The post Bithumb CEO Under Police Investigation in Lawmaker Hiring Scandal appeared first on 36Crypto.
