Report: Seoul Police Raid Bithumb HQ in Probe Tied to Lawmaker’s Son

Second Raid successful 4 Months

The Seoul Metropolitan Police Agency’s Public Crime Investigation Unit was said to person arrived astatine Bithumb’s Gangnam-gu offices connected Monday morning, marking the 2nd compulsory hunt of the speech since February. The archetypal raid took spot Feb. 24, 2026, covering some the Bithumb office and the company’s Financial Tower location.

Bithumb officials were summoned arsenic witnesses successful some February and April. Monday’s enactment indicates constabulary person not recovered what they request done witnesser grounds alone.

What Investigators Are Looking For

The probe focuses connected whether Kim Byung-ki utilized his legislative presumption to unafraid favorable employment astatine Bithumb for his 2nd son. According to section media reporting, Kim allegedly made employment requests to Bithumb betwixt September and November 2024. The lad was reportedly hired successful aboriginal January 2025 and worked astatine the speech for astir six months.

Kim served connected the National Assembly’s Political Affairs Committee, the assemblage with oversight authorization implicit fiscal and integer plus regulation. Investigators are examining whether inquiries helium directed astatine Dunamu, the relation of rival speech Upbit, were intended to payment Bithumb and created unit that contributed to the hiring.

Kim faces 13 abstracted suspicions successful the broader investigation, including information bribery. South Korea’s constabulary person summoned him astir 7 times implicit the people of a nine-month inquiry.

Bithumb has maintained publically that the hiring process for Kim’s lad followed modular procedures and progressive nary irregularities. The South Korean crypto speech is simply a apical 20 trading level worldwide and 2nd to Upbit successful the country. Over the past day, Bithumb logged astir $576 cardinal successful trading volume.

Korean Media Coverage

MBC, KBS, and JTBC each published reports connected the June 8 raid wrong hours of the greeting hunt warrant execution. MBC’s imnews.imbc.com reported the enactment astatine astir 1:29 p.m. section time. KBS confirmed the 2nd raid astatine astir 3:15 p.m., noting the 13 suspicions and 7 anterior summonses of Kim. JTBC published a abstracted relationship covering the greeting timeline and the son’s approximate six months of employment. Several different determination quality outlets covered Monday’s probe.

Bithumb’s History With Law Enforcement

Monday’s raid is not Bithumb’s archetypal brushwood with investigators. Tax authorities and constabulary searched the speech successful 2018 implicit alleged taxation evasion. Seoul constabulary returned successful 2020 implicit suspected concern fraud tied to token listings. Prosecutors raided successful 2023 implicit alleged terms manipulation of locally issued tokens, and again successful 2025 implicit embezzlement allegations involving a erstwhile executive.

A abstracted incidental successful February 2026 drew regulatory scrutiny erstwhile a strategy mistake during a promotion accidentally credited idiosyncratic accounts with astir 620,000 BTC, causing a little marketplace disruption connected the platform. That lawsuit triggered a Financial Supervisory Service probe and Financial Intelligence Unit actions, including a partial suspension announcement and disciplinary measures against the CEO. That concern was not a constabulary raid and is chiseled from the existent transgression investigation.

What Comes Next

Police person stated that respective aspects of the broader Kim Byung-ki probe necessitate further enactment earlier conclusions tin beryllium drawn. No ceremonial charges person been announced. If immoderate materials were seized connected Monday, it could accelerate the timeline.