Bithumb CEO Booked as Bribery Suspect Over Alleged Job Favor

Beyond the hiring claim, police are examining Kim's parliamentary record. Kim sits on the National Assembly's Political Affairs Committee. Investigators are looking into whether he directed legislative activity against Bithumb's rival Dunamu as a quid pro quo for securing his son's job. That line of inquiry adds a political dimension to what initially looked like a corporate hiring dispute.

Police are also looking into whether a separate aide, referred to as Mr. A, was hired at Bithumb on Kim's request. Mr. A started at the exchange in September 2025 and has ties to Kim's parliamentary office. Authorities plan to summon Mr. A and others for questioning to determine what he knew about the job solicitation.

No formal charges have been filed against Lee or Kim. The case remains under active investigation.

The news raises questions about Bithumb's governance and regulatory risk. The exchange has faced previous legal scrutiny, including a 2023 investigation into market manipulation allegations. A criminal probe directly targeting its CEO could affect depositor confidence and liquidity if the investigation escalates. South Korean crypto exchanges operate under strict anti-money-laundering rules and must renew their banking partnership agreements annually. Any regulatory disruption at Bithumb could ripple across the domestic market, which accounts for a significant share of global altcoin trading volume.

Traders should watch whether the investigation leads to restrictions on Bithumb's banking relationships or a freeze on executive authority. The exchange processed roughly $15 billion in monthly trading volume in May, making it one of the largest platforms in the country. A loss of its banking partner would force it to suspend won deposits and withdrawals.

Police expect to conclude their probe within several months. Neither Kim nor Lee has made a public statement on the allegations.