According to local news sources, authorities in Seoul, the capital of South Korea, have issued an arrest warrant for the owner of Bithumb, one of the leading cryptocurrency exchanges.
Bithumb, one of the largest cryptocurrency exchanges in South Korea “Confidential Chairman” Kang Jong-Hyeon and two other executives are accused of several different things, among them embezzlement.
Officials, Kang’s convertible bonds using, It artificially inflates the share values of Bithumb-owned companies. suspects.
Authorities in South Korea announced that Bithumb’s former chairman of the board, Lee Jung-joon, last October eight years in prison had requested.
Authorities announced this ex-manager of Bithumb in July 2021, committing large-scale fraud they blamed. However, he was acquitted of these charges in January.