The investigation centers on allegations the independent lawmaker used influence to help his son join Bithumb in January 2025 and has widened to include Dunamu, the operator of Upbit.
South Korean police raided crypto exchange Bithumb as part of an investigation involving independent lawmaker Kim Byung-gi. The case centers on allegations that he used influence to help his son join Bithumb in January 2025, where the son worked for about six months. Authorities have broadened the probe to include Dunamu, operator of Upbit, as they examine possible rent-seeking and benefit transfers. The raid lands against a backdrop of separate regulatory pressure on Bithumb: the exchange was fined about $24.5 million in March over KYC (know-your-customer identity checks) and AML (anti-money-laundering controls) violations, although a court suspended the sanction in late April pending legal proceedings.