Bithumb CEO Booked as Suspect Over South Korea Bribery Case
South Korean police have booked Bithumb CEO Lee Jae-won on suspicion of bribery tied to hiring the son of lawmaker Kim Byung-ki. Reports say Kim asked Lee to employ his second son during a November 2024 meeting, and the son worked at Bithumb for about six months after joining in January 2025. Investigators also allege Kim used his role on the National Assembly’s finance oversight committee to pressure Bithumb’s rival Dunamu. Police searched Bithumb’s headquarters in February and June as the probe expanded. The case is part of a wider corruption investigation involving Kim, who faces multiple separate allegations and repeated police questioning. Bithumb also faces unrelated regulatory trouble, including a large fine and a suspended order over anti-money-laundering and KYC failures, though a court temporarily blocked that penalty.
