{"id":18245,"date":"2025-03-20T12:53:17","date_gmt":"2025-03-20T12:53:17","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=18245"},"modified":"2025-03-20T12:53:17","modified_gmt":"2025-03-20T12:53:17","slug":"crypto-exchange-bithumb-raided-by-south-korean-prosecutors-over-embezzlement-allegations-report","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=18245","title":{"rendered":"Crypto Exchange Bithumb Raided by South Korean Prosecutors Over Embezzlement Allegations: Report"},"content":{"rendered":"<div>\n<p>Prosecutors in South Korea have launched an investigation into Bithumb, one of the country&#8217;s largest cryptocurrency exchanges, over claims that company funds were improperly used to assist a former executive in purchasing an apartment.<\/p>\n<p>Officials from the Seoul Southern District Prosecutors\u2019 Office raided Bithumb\u2019s headquarters in Yeoksam-dong and other locations on Wednesday., according to local <a href=\"https:\/\/v.daum.net\/v\/20250320162703785\" target=\"_blank\">media<\/a> report.<\/p>\n<p>Wu Blockchain <a href=\"https:\/\/x.com\/WuBlockchain\/status\/1902658455305171447?t=CUnIj19FvWpsERxSfz6pfw&amp;s=19\" target=\"_blank\">reported that some projects<\/a> had paid up to $10 million in fees to list their tokens on Upbit and Bithumb. <\/p>\n<p>The probe focuses on allegations that Bithumb provided a 3 billion KRW ($2 million) security deposit for an apartment rental in Seongsu-dong, Seoul, for Kim Dae-sik, the company\u2019s former CEO and current advisor.<\/p>\n<p>The Financial Supervisory Service, South Korea\u2019s financial regulator, initially reviewed the case before forwarding it to prosecutors. Speaking to <a href=\"https:\/\/www.chosun.com\/national\/national_general\/2025\/03\/20\/XDXIUYRNKRCFPOM7UK2BM3GQAQ\/\" target=\"_blank\">The Chosun Daily<\/a>, a Bithumb spokesperson reportedly acknowledged some of the allegations were correct, adding Kim repaid the loaned amount in its entire after securing a loan.<\/p>\n<p>Bithumb has faced multiple legal challenges in recent years,<a href=\"https:\/\/www.coindesk.com\/policy\/2023\/01\/10\/crypto-exchange-operator-bithumb-investigated-by-south-korean-tax-authorities-report\" target=\"_blank\"> including tax probes<\/a> and a raid related to a <a href=\"https:\/\/www.coindesk.com\/business\/2023\/01\/27\/crypto-exchange-bithumb-raided-in-south-korean-price-manipulation-probe-report\" target=\"_blank\">price manipulation probe<\/a>. Its latest challenge comes as the firm was reported to be considering <a href=\"https:\/\/www.coindesk.com\/business\/2024\/09\/30\/crypto-exchange-bithumb-weighs-us-nasdaq-listing-report\" target=\"_blank\">listing shares on the Nasdaq<\/a>.<\/p>\n<p>Bithumb was not immediately available for comment when contacted by CoinDesk.<\/p>\n<p>Disclaimer: Information gathered for this article was translated with the use of artificial intelligence.<\/p>\n<p>UPDATE (March 20, 12:33 UTC): Adds additional details and background.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prosecutors in South Korea have launched an investigation into Bithumb, one of the country&#8217;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\u2019 Office raided Bithumb\u2019s headquarters in Yeoksam-dong and other locations on Wednesday., according to local [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-18245","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18245"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18245\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}