No Result
View All Result
World Press Time
  • Home
  • United States
  • UK
  • World
    • Canada
    • Europe
    • Australia
    • Asia
    • South America
    • Africa
  • Politics
  • Business
    • Economy
    • Finance
    • Investing
    • Markets
    • Companies
    • Crypto
  • Lifestyle
  • Entertainment
  • Health
  • Technology
  • Science
  • Sports
  • Travel
  • Contact
Subscribe
  • Login
  • Home
  • United States
  • UK
  • World
    • Canada
    • Europe
    • Australia
    • Asia
    • South America
    • Africa
  • Politics
  • Business
    • Economy
    • Finance
    • Investing
    • Markets
    • Companies
    • Crypto
  • Lifestyle
  • Entertainment
  • Health
  • Technology
  • Science
  • Sports
  • Travel
  • Contact
No Result
View All Result
World Press Time
No Result
View All Result
  • United States
  • UK
  • World
  • Politics
  • Business
  • Lifestyle
  • Entertainment
  • Health
  • Technology
  • Science
  • Sports
  • Travel
  • Videos
Home Business Crypto

S Korean Prosecutors Arrest Exec Suspected of Destroying Evidence at Bithumb ‘Affiliate’

Press Room by Press Room
7 months ago
in Crypto
Reading Time: 2 mins read
122 5
A A
0
34
SHARES
489
VIEWS
Share on FacebookShare on Twitter

South Korean law enforcers have arrested an executive at one of the crypto exchange Bithumb’s affiliate companies. The executive was charged with destroying evidence prior to an onsite probe earlier this month.

The development comes as MPs and prosecutors attempt to unravel the mysteries surrounding the ownership of the exchange – one of the nation’s largest crypto trading platforms.

Newswho Plus reported that a Bucket Studio executive surnamed Lee (first name withheld for legal reasons) was arrested on charges of obstructing a police investigation. Detectives say Lee sought to conceal or remove company data and “delete CCTV footage” just before the prosecution began onsite raids of Bucket Studio and two other firms with links to Bithumb on October 7.

The “stolen data” included “investment-related materials” that “prove” company executives were complicit in “embezzlement,” prosecutors suggested.

Intense social media and mainstream media scrutiny has followed revelations surrounding the alleged “shadow chairman” and majority shareholder of Bithumb Kang Jong-hyun after a major exposé last month. Reports have alleged that Kang bought three publicly listed firms (Bucket Studio, Vidente, and INBIOGEN). All three firms hold stakes in Bithumb.

Kang is also suspected of appointing the sister of his former celebrity girlfriend as an executive at INBIOGEN. Media outlets have claimed that Kang has registered his business interests and assets in his own younger sister’s name.

Prosecutors suspecting wrong-doing have already swooped, and earlier this month seized data and documents from all three firms. Now they have followed up with the arrest of Lee.

What Is this Affiliate’s Bithumb Connection?

Primarily a film and drama distributor, Bucket Studio announced last year that it had bought a 4.5% stake in Bithumb. And, following this, the company said it would be teaming up with Bithumb’s Bithumb Live platform to create a new shopping network.

Kang’s business card lists him as the CEO of Bithumb Live, Bucket Studio, Vidente, and INBIOGEN.

The media outlet added that prosecutors are currently “reviewing their timing options” as they consider summoning Kang for questioning. They may also seek to issue him with a travel ban.

Read the full article here

Share14Tweet9Share2Pin3SendShareShareShareShare
ADVERTISEMENT

Related Articles

Crypto

Crypto Experts Say This New Web3 Utility Coin is the Best Altcoin to Buy Now – How Does it Work?

Crypto

SEC Chair Gary Gensler Tried To Land a Job at Binance, the Exchange’s Lawyers Allege

Crypto

US Justice Department Objects to Bittrex’s Plan To Repay Customers in Bankruptcy Proceedings

Crypto

Bitcoin Now Undervalued vs S&P 500, According to This Metric

Crypto

Documents Reveal Binance.US Suffered a $181 Million Loss in 2022

Crypto

Gen Z Investors Favor Crypto, But Experts Warn of Potential Risks

Crypto

Bitcoin Reverses Post-US Jobs Data Upside as SEC Chair Gensler Lambasts Crypto Indsutry – Where Next for BTC Price?

Crypto

Solana is Going to Zero After SEC Lawsuit Deems SOL a Security and Investors are Moving to Ecoterra as the Platform Raises $4.9 Million – What Does it Do?

Crypto

​​Market Distortion Caused by Regulation- Disparity in Token Prices in Centralized vs. Decentralized Exchange

Load More

Recommended

Casey White sentenced to life for 2022 escape from Alabama prison

Dozens of dead sharks wash up on British beach leaving marine experts baffled

Hong Kong journalist acquitted of criminal charges in rare victory for media freedom

THE MOST IMPORTANT FINANCE NEWS AND EVENTS OF THE DAY

Subscribe to our mailing list to receives daily updates direct to your inbox!

Trending Now

    About Us

    World Press Time

    World Press Time is your one-stop news portal, follow us to get the latest politic, business, sports, entertainment any more. follow us now.

    Topics

    Africa Asia Australia Business Canada Companies Crypto Economy Entertainment Europe Finance Health Investing Lifestyle Markets Politics Science South America Sports Technology Travel United Kingdom United States Videos World

    Get informed

    THE MOST IMPORTANT FINANCE NEWS AND EVENTS OF THE DAY

    Subscribe to our mailing list to receives daily updates direct to your inbox!

    • Privacy Policy
    • Terms of use
    • Press Release
    • Advertise
    • Contact

    © 2022 World Press Time - All Rights Reserved.

    No Result
    View All Result
    • Home
    • United States
    • UK
    • World
      • Canada
      • Europe
      • Australia
      • Asia
      • South America
      • Africa
    • Politics
    • Business
      • Economy
      • Finance
      • Investing
      • Markets
      • Companies
      • Crypto
    • Lifestyle
    • Entertainment
    • Health
    • Technology
    • Science
    • Sports
    • Travel
    • Contact

    © 2022 World Press Time - All Rights Reserved.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website, you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.