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Bithumb Exchange's Offices Raided Again by Korean Authorities: Report
Local officials are said to have raided Bithumb's offices for the second time in a week as part of a fraud investigation.

South Korean officials are said to have raided the offices of cryptocurrency exchange Bithumb for a second time in a week.
- The Seoul Newspaper reported Tuesday that the Seoul Metropolitan Police Agency's Intelligent Crime Investigation Unit had entered Bithumb's Seoul headquarters and seized evidence relating to a fraud investigation.
- The raid was again linked to a $25 million token sale hosted on Bithumb and a proposed acquisition by a Singapore platform, BTHMB, that never materialized.
- Some investors have reportedly lost millions and Bithumb's chairman, Lee Jung-hoon, has been accused of fraud and illicitly sending funds overseas.
- Bithumb, one of the largest exchanges in South Korea by trading volume, was raided for the first time last Wednesday.
- Authorities this time targeted the offices relating to Bithumb Holdings, the parent of Bithumb Korea, which operates the Bithumb exchange.
- “Everything is going fine,” Bithumb told CoinDesk when contacted for comment.
See also: South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading
Paddy Baker
Paddy Baker is a London-based cryptocurrency reporter. He was previously senior journalist at Crypto Briefing.
Paddy holds positions in BTC and ETH, as well as smaller amounts of LTC, ZIL, NEO, BNB and BSV.
