[Alpha Biz= Paul Lee] Prosecutors have launched a forced investigation into Bithumb, a cryptocurrency exchange, over allegations that it provided funds for an apartment purchase to its former CEO.


The Seoul Southern District Prosecutors' Office's Cryptocurrency Crime Joint Investigation Team announced on Thursday that they are conducting searches and seizures at Bithumb's headquarters in the Yeoksam-dong area of Gangnam.


The prosecutors began the investigation after receiving information from financial authorities, which revealed that former CEO Kim, who is currently an advisor to Bithumb, allegedly received preferential treatment from the company when purchasing an apartment in Banpo-dong, Seocho-gu.


A Bithumb official commented, "It is difficult to confirm this."

 

 

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