South Korea Probes Crypto Exchanges Upbit, Bithumb on Ex-Lawmaker's Transfers

South Korea Probes Crypto Exchanges Upbit, Bithumb on Ex-Lawmaker’s Transfers

South Korean prosecutors searched accounts at major exchanges Upbit and Bithumb, relating to the transfers made by former lawmaker Kim Nam-kuk on Monday.

Messaging app Kakao was also included in the search due to Kim using its Klip cryptocurrency wallet, according to CoinDesk Korea.

Since last week, Rep. Kim Nam-kuk of the Democratic Party of Korea has been embroiled in accusations of conflict of interest over cryptocurrency withdrawals he made in 2022.

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Kim also faces accusations that he was trading coins during meetings of the National Assembly’s judiciary committee in May and November last year, a CoinDesk Korea report said. The lawmaker presented himself as

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