Bithumb CEO Booked as Suspect in South Korea Bribery Investigation

South Korean police have booked Bithumb CEO Lee Jae-won on bribery charges for allegedly hiring a lawmaker's relative in exchange for favorable regulatory treatment. Police raided Bithumb twice this year.

• Bithumb CEO Lee Jae-won is suspected of hiring the son of lawmaker Kim Byung-ki after a November 2024 meeting.
• The lawmaker allegedly used his position on the Political Affairs Committee to target Bithumb competitor Dunamu.
• Police executed search warrants at Bithumb headquarters in February and June 2026.
• Bithumb also faces a $24.5M fine and six-month partial suspension for AML/KYC compliance failures, currently blocked by a court.

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Last updated 12 Jun 2026