Following Charges of Theft, Bithumb’s Largest Shareholder Executive Was Discovered Deceased

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Last Updated on January 1, 2023 by Bitfinsider

Mr. Park Mo, the vice president of Vidente, the largest stakeholder in South Korean cryptocurrency exchange Bithumb, was discovered dead in front of his home at 4 a.m. on December 30.

Prior to his death, Mr. Mo had been designated as a major suspect in a South Korean prosecutors’ probe into his suspected participation in embezzling assets from Bithumb-related firms and manipulating stock prices.

The Seoul Southern District Prosecutor’s Office’s Financial Inquiry Division initiated an investigation into claims made against Mr. Park Mo in October 2021, leading to the seizure of Bithumb-affiliated firms such as Vident, Inbiogen, and Bucket Studio.

Vident, a KOSDAQ-listed firm, is Bithumb’s largest stakeholder, owning 34.22% of the cryptocurrency exchange.

Mr. Mo is thought to have committed himself as a result of the nature of the criminal charges leveled against him.

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