Bithumb Affiliate Executive Detained on "Fear of Evidence Tampering"

[Asia Economy Reporter Choi Dae-yeol] An executive of a company affiliated with the cryptocurrency exchange Bithumb has been detained.

On the 28th, Kwon Ki-man, the warrant judge at the Seoul Southern District Court, issued an arrest warrant for Lee, an executive of Bucket Studio, who is accused of evidence tampering, stating that "there is a risk of flight and evidence destruction."

Bucket Studio is the parent company of Bithumb Holdings, the major shareholder of Bithumb Korea, which operates Bithumb. Lee is suspected of stealing key company documents and deleting closed-circuit television (CCTV) footage just before the prosecution began a forced investigation into Bithumb affiliates.

The prosecution began an investigation on the 7th by conducting raids on Inbiogen, Bident, Bucket Studio, and others after detecting embezzlement allegations against the management of Bithumb affiliates. It is also known that the prosecution recently imposed a travel ban on Kang Jong-hyun, who is suspected to be the actual owner of Bithumb, and is considering summoning him.