Prosecutors in South Korea Have Requested the Arrest of the Owner of Bithumb

Published on:

Last Updated on January 27, 2023 by Bitfinsider

Prosecutors in South Korea are pursuing the arrest of Kang Jong-Hyun, the chairman and owner of bitcoin exchange Bithumb, according to a Korean news outlet on Wednesday.

According to local media, Kang and two other executives, including his younger sister, Kang Ji-Yeon, CEO of two publicly traded Bithumb affiliates, Inbiogen and Bucket Studio, were charged with embezzlement, breach of trust, and fraudulent illegal transactions by the Seoul Southern District Prosecutor’s Office.
It was reported earlier this month that South Korea’s National Tax Service had launched an inquiry into alleged tax evasion at Bithumb and its affiliates.

Separate from the tax evasion inquiry, the probe into Kang and the other executives’ actions revolves upon charges that Kang and the others stole corporate money and plotted to manipulate stock prices.

Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.