Prosecutors Summon Kang Jong-hyun for Investigation on Bithumb Embezzlement and Stock Price Manipulation Allegations

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Seoyul] The prosecution investigating embezzlement allegations against the management of the cryptocurrency exchange ‘Bithumb’ has summoned Kang Jonghyun, who is suspected to be the actual owner of Bithumb.

On the 9th, the Financial Investigation Division 2 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Chae Heeman) summoned Kang Jonghyun for questioning as a suspect on charges of embezzlement and stock price manipulation. Kang is also known as the person rumored to be dating actress Park Minyoung.

Earlier, the prosecution uncovered evidence that a brother and sister conspired to embezzle company funds and manipulate stock prices, leading to a raid in October last year on Bithumb affiliates including Bident, Inbiogen, and Bucket Studio.

Bident is a KOSDAQ-listed company and the single largest shareholder of Bithumb, holding 34.22% of Bithumb Holdings’ shares. Inbiogen is the largest shareholder of Bident, and Bucket Studio is the largest shareholder of Inbiogen.

Although the CEOs of Inbiogen and Bucket Studio are both Kang Jiyeon, the younger sibling, suspicions have arisen that Kang Jonghyun is the actual owner, making him a key figure in the embezzlement case.

Kang Jiyeon was also reportedly summoned for questioning last week.

This content was produced with the assistance of AI translation services.