Bithumb CEO Lee Jae-won Designated Bribery Suspect on June 8 After Second Police Raid

According to Seoul Metropolitan Police Agency, Bithumb CEO Lee Jae-won was designated as a bribery suspect on June 8 following a second raid on the cryptocurrency exchange's Gangnam headquarters. Police are investigating allegations that Lee hired independent Rep. Kim Byung-ki's son in exchange for favorable legislative treatment, with the lawmaker's son employed at Bithumb for approximately six months starting January 2025. Investigators suspect Kim may have tailored his legislative activities to benefit Bithumb and targeted the exchange's competitor Dunamu on monopoly issues. Police are also investigating allegations that Kim pressured Bithumb to hire another congressional aide identified as "A," employed at the exchange since September last year.
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