Bithumb CEO Named Suspect in Bribery Probe Tied to Lawmaker

The probe also covers a separate hiring allegation. Police are checking whether Kim asked Bithumb to employ an aide who worked in his office. That aide reportedly joined Bithumb in September last year.

Police named Lee as a suspect in a second search warrant executed June 8. The search covered Bithumb's headquarters in Gangnam-gu and other locations.

During an earlier search in February, police had listed Kim as a bribery suspect over alleged preferential treatment involving his son. Bithumb was treated as a witness at that stage.

Investigators are expected to review seized materials before questioning people linked to the hires. Yonhap said police may summon the aide and others to ask about the hiring process and what they knew about the alleged requests.

The new case arrives during a difficult year for Bithumb. Regulators fined the exchange 36.8 billion won, about $24.5 million, after finding anti-money laundering violations.

Bithumb also faced regulatory questions after an internal error in February briefly credited users with massive Bitcoin balances. The exchange later delayed its IPO plans until after 2028 while strengthening accounting and internal controls.

The bribery case remains under investigation. Police have not announced final findings, and the allegations against Lee, Kim and others have not been proven in court.