Prosecutors Seek Arrest Warrant for Bithumb Affiliate Executive on Embezzlement Suspicion and Evidence Tampering Charges

[Asia Economy Reporter Yoo Byung-don] The prosecution investigating embezzlement allegations against the management of the cryptocurrency exchange 'Bithumb' has filed an arrest warrant for a key executive of Bithumb Korea's parent company.

On the 27th, the Financial Investigation Division 2 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Chae Hee-man) announced that it had filed an arrest warrant for executive A of Bucket Studio on charges of evidence tampering. Bucket Studio is the parent company of Bithumb Holdings, the major shareholder of Bithumb Korea, which operates Bithumb.

Executive A is suspected of removing key company documents and deleting closed-circuit television (CCTV) footage just before the prosecution began a forced investigation into Bithumb affiliates.

The prosecution has launched a full-scale investigation, including raids on related companies such as Bident, Invigen, and Bucket Studio on the 7th of this month, after detecting embezzlement allegations against the management of Bithumb affiliates.

Executive A's pre-arrest suspect interrogation (warrant hearing) is scheduled to be held at 10:30 a.m. on the 28th at the Seoul Southern District Court.

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