South Korea raids Bithumb amid ex-CEO’s alleged $2M embezzlement

South Korean prosecutors raided crypto exchange Bithumb following suspicions that its former CEO embezzled funds to purchase an apartment.  On March 20, Seoul’s Southern District Prosecutors Office reportedly searched Bithumbs offices in the country. The investigation centered around allegations that the crypto exchange gave a 3 billion Korean won (over $2 million) apartment lease deposit to Kim Dae-sik, its former CEO and board member, who now works as an adviser to the firm.  Prosecutors raised concerns over potential financial misconduct within the company, suspecting that Kim used some of the funds to purchase a personal apartment source: https://cointelegraph.com/news/south-korean-prosecutors-raid-bithumb-former-ceo-embezzlement?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound