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Bithumb. (Photo courtesy of Bithumb) |
[Alpha Biz= Paul Lee] South Korean police have concluded a search-and-seizure operation at cryptocurrency exchange Bithumb as part of an investigation into allegations that independent lawmaker Kim Byeong-gi sought to secure employment for his younger son through improper solicitation.
According to police on Monday, the Seoul Metropolitan Police Agency’s Public Crimes Investigation Unit conducted raids from 9:40 a.m. to 6:40 p.m. at Bithumb’s headquarters in southern Seoul and at two offices in the Bithumb Financial Tower.
Investigators believe Kim attempted to solicit employment for his son at South Korea’s two largest cryptocurrency exchanges—Upbit and Bithumb. Based on personnel records and other materials seized during the raid, police plan to examine the circumstances surrounding the hiring process and determine whether any illegal recruitment took place.
Kim’s younger son joined Bithumb in January last year and worked there for about six months. Bithumb has stated that there were no irregularities in the hiring process.
Earlier this month, police summoned two Bithumb executives and a former chief executive of Dunamu, the operator of Upbit, as witnesses in connection with the case. Investigators emphasized that the probe remains at a fact-finding stage based on the seized materials, and that no individuals have yet been named as suspects.
Former Dunamu CEO Lee Seok-woo, who was questioned by police earlier this month, is known to have had several dinner meetings with Kim between September and November 2024. Kim’s younger son reportedly attended some of those meetings, a detail investigators view as potentially relevant to the allegations.
Bithumb’s chief executive is also reported to have met Kim for dinner in November 2024, during which Kim is believed to have made a similar request regarding his son’s employment.
Separately, Kim—who faces a total of 13 allegations including the employment solicitation case—is scheduled to appear before police as a suspect on March 26 and 27. This will mark the first time he has been questioned in person since the investigation began two months ago.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
