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South Korean Cryptocurrency Exchange Bithumb Searched By Seoul Police For Alleged Fraud

Tracy CHEN

Summary: According to seoul.co.kr, on September 2, Seoul police conducted a search on South Korea's largest cryptocurrency exchange Bithumb. Lee Jung Hoon, the president of the Bithumb Korea Council, is under police investigation for fraud and property escape.  According to the Seoul Public Security Agency, the search was related to investment fraud in the issuance of ...

According to seoul.co.kr, on September 2, Seoul police conducted a search on South Korea's largest cryptocurrency exchange Bithumb. Lee Jung Hoon, the president of the Bithumb Korea Council, is under police investigation for fraud and property escape. 

According to the Seoul Public Security Agency, the search was related to investment fraud in the issuance of BXA tokens. BXA victims stated that Lee and others pre-sold 30 billion won tokens under the name of listing BXA, but it did not actually go public, causing losses.

Tracy Chen

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