Seoul police executed a second search of Bithumb’s headquarters on Monday as part of a widening corruption investigation centered on independent lawmaker Kim Byung-ki, according to local media reports.
Second Raid in Four Months
The Seoul Metropolitan Police Agency’s Public Crime Investigation Unit reportedly arrived at Bithumb’s offices in the Gangnam-gu district on Monday morning. The operation marks the second search of the cryptocurrency exchange’s premises in four months, the reports said.
Details on the materials sought or seized were not disclosed in the coverage. The reports also did not indicate whether any arrests or charges were made in connection with the search.
Context: Bithumb and South Korea’s Crypto Oversight
Bithumb is one of South Korea’s largest cryptocurrency exchanges by trading volume and a key player in the country’s digital asset market. South Korea maintains a stringent regulatory framework for exchanges, including real-name verification requirements, anti-money laundering compliance, and enhanced consumer protection rules.
What to Watch
Authorities have not publicly released findings from the latest search, according to the reports. Further updates are expected as the investigation progresses.