An official from Bithumb has been investigated for taking bribes in exchange for facilitating project listing.
The first name of the person, whose surname is Lee, was not disclosed due to legal reasons. The name of the project, which allegedly bribed Lee, is also among the hidden information. Within the scope of the investigation carried out by the Financial Investigation Division of the Seoul Southern District Procuratorate, some of Lee’s belongings and documents were confiscated.
Prosecutor’s Investigation Continues
Bithumb spokesperson Chosun, who declined to comment on the matter, confirmed that the prosecution investigation is continuing.
However, the second blow came to the South Korean crypto exchange industry in just a few months. In February, a former Coinone official, surnamed Jeon, was also under investigation by the Seoul Southern District Attorney’s Office. Prosecutors believe that Jeon may have received hundreds of thousands of dollars in exchange for listing several coins on the Coinone platform.
Legal experts have called for legal reform, stating that courts do not have the power to impose severe penalties in such cases.
Some experts, on the other hand, stated that the exchanges have a very wide area by determining which coins to list themselves. A lawyer among the experts stated that when it comes to trading securities, local providers have to get approval from regulatory authorities, but in the case of crypto exchanges, such an agency does not intervene.
Bithumb was raided in January as part of a price manipulation investigation.
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