{"id":1737,"date":"2023-03-20T06:17:14","date_gmt":"2023-03-20T06:17:14","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=1737"},"modified":"2023-03-20T06:17:16","modified_gmt":"2023-03-20T06:17:16","slug":"south-korean-crypto-exchanges-investigated-for-bribery-allegations","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/south-korean-crypto-exchanges-investigated-for-bribery-allegations\/","title":{"rendered":"South Korean Crypto Exchanges Investigated for Bribery Allegations"},"content":{"rendered":"\n

South Korean prosecutors are investigating executives of major crypto exchanges in the country, including Bithumb and Coinone, for alleged bribery in the listing of certain cryptocurrencies on their platforms. The investigation adds to the growing list of charges against Bithumb executives.<\/p>\n\n\n\n

Bithumb CEO Investigated for Bribery<\/h2>\n\n\n\n

Lee Sang-jun, the CEO of Bithumb\u2019s holding company, is being investigated for alleged bribery. Prosecutors raided Bithumb Holdings and Lee\u2019s private residence earlier this month as part of the investigation. However, the prosecutors\u2019 office has declined to give further details, such as the date of the raid and Lee’s whereabouts.<\/p>\n\n\n

\n
\"CoinOne\"<\/figure><\/a><\/div>\n<\/div>\n\n\n

Coinone Employee also Under Investigation<\/h2>\n\n\n\n

A former employee of Coinone is also being investigated for allegedly accepting bribes to list specific cryptocurrencies. The prosecutors did not reveal the person\u2019s full name, citing South Korean privacy laws. Coinone has confirmed the investigation but has not provided any further comments.<\/p>\n\n\n\n

Also Read: Bithumb Under Special Tax Investigation by South Korean National Tax Service<\/a><\/p>\n\n\n\n

Prosecutors have evidence that other local exchanges, including Upbit, Korbit, and Gopax, have allegedly listed certain crypto tokens \u201cillegally.\u201d The prosecutors did not provide further details, citing an unnamed source familiar with the matter.<\/p>\n\n\n\n

Bithumb\u2019s de-facto owner, Kang Jong-hyun, and two other executives of Bithumb-affiliated firms are set to face trial on Wednesday for charges of embezzlement, fraudulent transactions, and breach of duty. Kang\u2019s younger sister, Kang Ji-yeon, who holds the largest stake in Bithumb, also faces charges of manipulating Bithumb\u2019s stock price with false information.<\/p>\n\n\n\n

South Korea is developing a regulatory framework for its digital asset industry, which is expected to include clearer guidelines for the listing and delisting of crypto tokens on exchanges.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korean prosecutors are investigating executives of major crypto exchanges in the country, including Bithumb and Coinone, for alleged bribery in the listing of certain cryptocurrencies on their platforms. The investigation adds to the growing list of charges against Bithumb executives. Bithumb CEO Investigated for Bribery Lee Sang-jun, the CEO of Bithumb\u2019s holding company, is […]<\/p>\n","protected":false},"author":13,"featured_media":723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[30,43],"tags":[],"class_list":["post-1737","post","type-post","status-publish","format-standard","has-post-thumbnail","category-exchange","category-general-news"],"acf":[],"yoast_head":"\nSouth Korean Crypto Exchanges Investigated for Bribery Allegations<\/title>\n<meta name=\"description\" content=\"South Korean prosecutors are investigating executives of major crypto exchanges in the country, including Bithumb and Coinone, for alleged bribery in the listing of certain cryptocurrencies on their platforms.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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