News By  Gagarin News
Normal +2 323 27 Jan 2023
Normal +2

Police raided the Bithumb exchange office

By  Gagarin News 323 27 Jan 2023
Photo - Police raided the Bithumb exchange office

South Korean authorities suspect one of the exchange's employees of price manipulation and insider trading. On Thursday, the police raided Bithumb's office to locate and seize information about illegal transactions.

According to the prosecutor, charges have not yet been brought against the exchange, but the investigation is ongoing. Although the police raid coincided with an investigation against the management of Bithumb, which the local tax office accuses of tax evasion, embezzlement, and illegal transactions.

After introducing strict crypto regulations in South Korea, about 70 trading platforms were forced to close. Bithumb remained one of the four exchanges on the local market.