South Korean police seize Bithumb shares in third raid this month

South Korean police seize Bithumb shares in third raid this month


South Korea’s largest cryptocurrency exchange Bithumb has been raided by the Seoul Metropolitan Police for the third time this month, according to a report in a local media outlet. 

During the Sep. 16 raid, police reportedly seized a number of shares in Bithumb Holdings belonging to Bithumb Korea Director Kim Byung-Geon. The seizure action was granted by the Seoul Central District Court on Sep. 14.

Kim had been unsuccessfully trying to acquire Bithumb, and had been sued in the process. He had previously filed an application for the seizure of a significant number of shares belonging to Chairman Lee Jung-Hoon, the majority shareholder.

The latest police raid on the exchange is the third this month following an initial raid on Sep. 2 and a further raid on Sep. 7 over an alleged major financial fraud around Bithumb’s native BXA token.

Trending: Biden Spokesperson Says “Just a Joke” When Biden Told Our Troops: “Clap You Stupid Bastards!”

Through promotion of the token, which has never been launched or listed, Lee reportedly got involved in a fraud

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!