Add as a preferred source on GoogleSouth Korean Prosecutors Search Bithumb Again in Housing Funds Probe
The search follows a March 2025 search in the same investigation. A regulator previously found ₩11.6 billion in housing deposits for four current and former executives.
South Korean prosecutors searched Bithumb’s Seoul headquarters on Oct. 28 ET, during the morning of Oct. 29 in South Korea, in an investigation involving company housing funds for executives.
Major Crimes Prosecution Division 3 carried out the search. A Seoul Southern District Public Prosecution Office official said investigators were checking facts related to funds for a former CEO’s apartment purchase. Prosecutors searched the same headquarters on March 20, 2025, in the investigation.
The Financial Supervisory Service (FSS), South Korea’s financial regulator, found in a March 2025 report that Bithumb provided a combined ₩11.6 billion in housing lease deposits to four current and former executives. The report found that Bithumb had no internal rules governing support limits, duration or recovery of deposits.
The FSS report described a ₩3 billion housing deposit approved by a current executive for personal use. It also described a former executive and adviser who received ₩1.1 billion in company housing funds for a personally purchased home, then rented the property to a third party for a ₩2.8 billion deposit.
After the FSS findings, Bithumb said it was reviewing its housing support program and would strengthen internal oversight.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.