Police raided South Korea’s largest cryptocurrency exchange Bithumb

According to reports, the largest office of the bithumb cryptocurrency exchange in South Korea in the Gangnam-GU district was raided by the Seoul police, in connection with the investigation of fraud and theft. The report noted that police raided and seized the office of the crypto exchange, seizing data after reports of alleged fraud

The raid on the office Bithumb

An anonymous source said that the largest South Korean cryptocurrency exchange was raided because of alleged links between the Chairman of the South Korean exchange, Lee Jong-Hoon, and several fraudulent transactions.

It is noteworthy that the exchange is under investigation after it was accused of pre-selling its own bxa tokens worth more than 30 billion won to investors, and then refusing to list the token, which allegedly led to losses for depositors.

In addition, at this time, neither the police nor Bithumb have yet released statements about the RAID. Although, as reported, law enforcement officers are still searching and investigating the case.