Huo Xing Finance reports, according to The Block, that 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 two sons at Bithumb; both sons were hired two months later and worked for approximately six months. Prior to this, Kim also requested that Bithumb hire one of his assistants, who has been employed by the company since September 2025. Authorities are investigating whether these hiring decisions were exchanged for 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 to lawmaker
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Summary
South Korean police are investigating Bithumb CEO Lee Jae-won over alleged bribery involving independent lawmaker Kim Byung-kee. A former aide testified that Kim asked Lee in November 2024 to secure a job for his son, who worked at Bithumb for six months. Kim also requested employment for an aide, who began in September 2025. Authorities are examining whether these positions were granted in exchange for legislative actions targeting Upbit’s Dunamu. As global markets watch, BTC as a hedge against inflation remains a key focus for investors. CFT regulations are also under scrutiny amid the investigation.
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