Police interrogated the Bithumb manager for alleged fraud. As the investigation goes into detail, more serious moves are coming after the police raids on Bithumb offices in recent weeks.
South Korea-based cryptocurrency exchange Bithumb has been shaken in recent weeks with a fraud allegation involving senior executives. The police carried out 3 raids to the headquarters of the stock exchange in September. In the investigation, which has not been completed yet, the authorities continue to investigate and inquire into details.
According to the report published by government-sponsored news agency Yonhap in South Korea, Seoul Metropolitan Police Service (SMPA) has interrogated Bithumb Holdings chairman Lee Jung-hoon.
Damage Over $ 25 Million in BXA Fraud Claim
According to the information given to the press; Lee, the head of the crypto money exchange, is faced with many different accusations such as fraud and embezzlement regarding the BXA token, whose listing has turned into a snake story. According to the published report, the total loss of users due to these activities of Bithumb was determined to be 30 billion South Korean Won, or approximately 25 million dollars.
Although the local police charged Kim Byung-gun, one of the top executives of Bithumb, as part of the BXA scam, Kim has not yet been interrogated. However, following the latest crackdown earlier this week, with the approval of the Seoul Central District Court, many company shares belonging to Kim Byung-gun were seized.