ChainCatcher report, according to The Block, the Seoul Metropolitan Police Agency’s Public Crime Investigation Division has named Bithumb CEO Lee Jae-won as a suspect in a bribery case involving independent member of parliament Kim Byung-kee. Police received testimony from a former assistant stating that in November 2024, Kim requested Lee to arrange employment for his second son at Bithumb; the son was hired two months later and worked for approximately six months. Kim had previously requested that Bithumb hire one of his assistants, who has been employed at the company since September 2025. Authorities are investigating whether these hiring arrangements were linked to a quid pro quo involving Kim’s legislative actions against Dunamu, the operator of Upbit, during his tenure on the National Assembly’s Financial Committee—including allegations that Upbit engaged in market monopolization.
South Korean police investigate Bithumb CEO over alleged bribery ties.
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Summary
South Korean police have opened an investigation into Bithumb CEO Lee Jae-won over alleged bribery involving independent National Assembly member Kim Byung-kee. A former aide testified that Kim asked Lee in November 2024 to secure a job for his son at Bithumb; the son started two months later and worked for six months. Kim also requested a position for one of his aides, who joined the company in September 2025. Authorities are examining whether these appointments were linked to Kim’s legislative actions targeting Upbit’s operator, including allegations of market monopolization. On-chain data continues to reveal shifting dynamics in altcoins to monitor amid regulatory scrutiny.
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