Crypto firms are struggling in South Korea
South Korean crypto exchanges Upbit and Bithumb have seen revenues plummet this year amid a wider downturn for crypto firms in the country.
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South Korean crypto exchanges Upbit and Bithumb have seen revenues plummet this year amid a wider downturn for crypto firms in the country.
Read more (2 min) →South Korean police have booked Bithumb CEO Lee Jae-won after he allegedly gave a politician's son a job in return for legislative favors.
Bithumb took action after SK Telecom was attacked with a malware infection that allowed hackers to access sensitive customer information.
The raid follows an investigation into a former Bithumb CEO who allegedly misused $2 million of company money to purchase an apartment.
Cryptocurrency exchanges Upbit and Bithumb were raided on Monday as part of an investigation into a politician who held $4.5M wemix coins.
According to a former Bithumb executive, the exchange has been aggressively listing shady kimchi coins "for a while."