Prosecutors in South Korea launched an investigation into Bithumb, one of the largest cryptocurrency exchanges in the country, on the allegations that the business funds were poorly used to help a former manager to buy an apartment.
Officials of the Office of Prosecutors of the Southern district of Seoul made a descent into the seat of Bithumb to Yeoksam-Dong and in other places on Wednesday., According to the report of the local media.
Wu Blockchain said some projects had paid up to $ 10 million in fees to list their tokens on Upbit and Bithumb.
The survey focuses on allegations that Bithumb provided a 3 billion KRW warranty ($ 2 million) for a rental of apartments in Seongsu-Dong, Seoul, for Kim Dae-Sik, the former CEO and current company.
The financial supervision service, the financial regulator of South Korea, initially examined the case before transmitting it to prosecutors. Addressing the Chosun Daily, a spokesperson for Bithumb would have recognized that some of the allegations were correct, adding that Kim reimbursed the amount lent as a whole after obtaining a loan.
Bithumb has been faced with several legal challenges in recent years, including tax probes and a raid linked to a price manipulation survey. His latest challenge arises while the company would have planned to provide actions on the NASDAQ.
Bithumb was not immediately available to comment when he was contacted by Coindesk.
Warning: The information collected for this article has been translated with the use of artificial intelligence.
Update (March 20, 12:33 UTC): Additional add Details and background.
