South Korean prosecutors raid Bithumb over alleged misuse of executive housing funds
- —Seoul Southern District Prosecutors' serious crimes unit led the raid
- —Bithumb allegedly provided housing worth 11.6 billion won to four executives
- —Some executives are suspected of misappropriating rental funds
- —The FSS referred the case to prosecutors in March last year
Why it matters: A raid on one of South Korea's largest exchanges adds to regulatory pressure on the country's crypto sector and poses reputational risk.
Source: Bloomingbit