{"id":73749,"date":"2026-06-08T21:00:51","date_gmt":"2026-06-08T21:00:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/seoul-police-raid-bithumb-hq-in-probe-tied-to-lawmakers-son-bitcoin-news\/"},"modified":"2026-06-08T21:00:51","modified_gmt":"2026-06-08T21:00:51","slug":"seoul-police-raid-bithumb-hq-in-probe-tied-to-lawmakers-son-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/seoul-police-raid-bithumb-hq-in-probe-tied-to-lawmakers-son-bitcoin-news\/","title":{"rendered":"Seoul Police Raid Bithumb HQ in Probe Tied to Lawmaker&#8217;s Son \u2013 Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Several reports say Seoul police raided Bithumb HQ a second time on June 8, 2026, in the Kim Byung-ki corruption probe.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Lawmaker Kim Byung-ki faces 13 suspicions and has been summoned by police approximately seven times.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bithumb denies hiring irregularities; police say the broader investigation requires further work.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Second Raid in 4 Months<\/h2>\n<p>The Seoul Metropolitan Police Agency\u2019s Public Crime Investigation Unit was said to have arrived at Bithumb\u2019s Gangnam-gu offices on Monday morning, marking the second compulsory search of the exchange since February. The first raid took place Feb. 24, 2026, covering both the Bithumb headquarters and the company\u2019s Financial Tower location.<\/p>\n<p><a href=\"https:\/\/news.bitcoin.com\/bithumb-seoul-court-halts-six-month-suspension\/\">Bithumb<\/a> officials were summoned as witnesses in both February and April. Monday\u2019s action indicates police have not found what they need through witness testimony alone.<\/p>\n<h2>What Investigators Are Looking For<\/h2>\n<p>The probe focuses on whether Kim Byung-ki used his legislative position to secure favorable employment at Bithumb for his second son. According to local media reporting, Kim allegedly made employment requests to Bithumb between September and November 2024. The son was reportedly hired in early January 2025 and worked at the exchange for approximately six months.<\/p>\n<p>Kim served on the National Assembly\u2019s Political Affairs Committee, the body with oversight authority over financial and digital asset regulation. Investigators are examining whether inquiries he directed at <a href=\"https:\/\/news.bitcoin.com\/hana-bank-buys-6-55-of-upbit-parent-dunamu-in-670m-crypto-push\/\">Dunamu<\/a>, the operator of rival exchange <a href=\"https:\/\/news.bitcoin.com\/samsung-affiliates-pay-408-million-for-upbit-operator-stake-closing-june-2026\/\">Upbit<\/a>, were intended to benefit Bithumb and created pressure that contributed to the hiring.<\/p>\n<p>Kim faces 13 separate suspicions in the broader investigation, including nomination bribery. South Korea\u2019s police have summoned him approximately seven times over the course of a nine-month inquiry.<\/p>\n<p>Bithumb has maintained publicly that the hiring process for Kim\u2019s son followed standard procedures and involved no irregularities. The South Korean <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> exchange is a top 20 trading platform worldwide and second to Upbit in the country. Over the last day, Bithumb logged around $576 million in <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-trading-volume\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">trading volume<\/a>.<\/p>\n<h2>Korean Media Coverage<\/h2>\n<p><a href=\"https:\/\/imnews.imbc.com\/news\/2026\/society\/article\/6828527_36919.html\" target=\"_blank\" rel=\"noopener noreferrer\">MBC<\/a>, <a href=\"https:\/\/news.kbs.co.kr\/news\/pc\/view\/view.do?ncd=8580509\" target=\"_blank\" rel=\"noopener noreferrer\">KBS<\/a>, and <a href=\"https:\/\/news.jtbc.co.kr\/article\/NB12302041\" target=\"_blank\" rel=\"noopener noreferrer\">JTBC<\/a> each published reports on the June 8 raid within hours of the morning search warrant execution. MBC\u2019s imnews.imbc.com reported the action at approximately 1:29 p.m. local time. KBS confirmed the second raid at approximately 3:15 p.m., noting the 13 suspicions and seven prior summonses of Kim. JTBC published a separate account covering the morning timeline and the son\u2019s approximate six months of employment. Several other regional news outlets <a href=\"https:\/\/www.sedaily.com\/article\/20052984\" target=\"_blank\" rel=\"noopener noreferrer\">covered<\/a> Monday\u2019s probe.<\/p>\n<h2>Bithumb\u2019s History With Law Enforcement<\/h2>\n<p>Monday\u2019s raid is not Bithumb\u2019s first encounter with investigators. Tax authorities and police searched the exchange in 2018 over alleged tax evasion. Seoul police returned in 2020 over suspected investment fraud tied to token listings. Prosecutors raided in 2023 over alleged price manipulation of locally issued tokens, and again in 2025 over embezzlement allegations involving a former executive.<\/p>\n<p>A separate incident in February 2026 drew regulatory scrutiny when a system error during a promotion accidentally credited user accounts with approximately 620,000 <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">BTC<\/a>, causing a brief market disruption on the platform. That event triggered a Financial Supervisory Service investigation and Financial Intelligence Unit actions, including a partial suspension notice and disciplinary measures against the CEO. That situation was not a police raid and is distinct from the current criminal investigation.<\/p>\n<h2>What Comes Next<\/h2>\n<p>Police have stated that several aspects of the broader Kim Byung-ki investigation require additional work before conclusions can be drawn. No formal charges have been announced. If any materials were seized on Monday, it could accelerate the timeline.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/report-seoul-police-raid-bithumb-hq-in-probe-tied-to-lawmakers-son\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Several reports say Seoul police raided Bithumb HQ a second time on June 8, 2026, in the Kim Byung-ki corruption probe. Lawmaker Kim Byung-ki faces 13 suspicions and has been summoned by police approximately seven times. Bithumb denies hiring irregularities; police say the broader investigation requires [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":73750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73749"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73749"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73750"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}