South Korea police raid Bithumb over lawmaker hiring favoritism probe: report
South Korean police reportedly raided Bithumb amid a nepotism probe involving independent lawmaker Kim Byung-gi. Kim is suspected of trying to influence hiring for his son at crypto firms, including Bithumb and Dunamu, the operator of Upbit. His son worked at Bithumb for about six months after joining in January 2025, and investigators are checking whether he received preferential treatment or whether outside pressure affected the hiring process. The probe expanded after reports that Kim, while serving on the National Assembly’s Political Affairs Committee, repeatedly questioned Dunamu, raising concerns he may have been aiding the firm where his son worked. Police have questioned Kim multiple times and previously searched Bithumb’s headquarters and related offices. He has also faced questioning over other allegations, including nomination bribery and favors tied to his son. Bithumb is already under regulatory scrutiny for AML and KYC failures, including a $24.5 million fine and a temporary suspension order that was later blocked by a court.
