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South Korea raids Bithumb amid ex-CEO’s alleged $2M embezzlement

  • March 20, 2025
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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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.

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 Bithumbs offices in the country.

The investigation centered around allegations that the crypto exchange gave a 3 billion Korean won (over $2 million) apartment lease deposit to Kim Dae-sik, its former CEO and board member, who now works as an adviser to the firm. 

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