Bithumb Chairman Called to Police for Fraud Seoul police have summoned Bithumb chairman Lee Jong Hoon in a fraud case, The Block reports, citing local media outlets.

Bithumb chairman summoned to police for fraud

Seoul police have summoned the chairman of the cryptocurrency exchange Bithumb Lee Jong Hoon in a fraudulent case, writes The Block, citing local media.

According to their information, 44-year-old Li is under investigation. He is accused of organizing a presale of his own Bithumb BXA token worth about 30 billion won ($ 25 million), followed by a refusal to list the token. According to investors, because of this, their investments have sharply depreciated..

The issue of BXA was carried out during negotiations on the sale of Bithumb to the Singapore company BK Group, and the reason for the refusal to carry out the listing was their failure. Among other things, Lee is accused of hiding assets abroad.

BK Group Chairman Kim Ben Gun, 57, is also involved in a fraud case, but has not been investigated..

During the last month, the police came to the offices of the exchange three times. The last such visit took place this week and was related to the seizure of Kim's shares in Bithumb.

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