Bitcoin24h $78,580.89-0.30%

Ethereum24h $2,488.25+0.32%

BNB24h $748.62+1.48%

XRP24h $1.41+1.44%

Solana24h $103.03+0.01%

TRON24h $0.3388+1.19%

Hyperliquid24h $85.27+1.41%

Zcash24h $1,179.15+4.44%

Dogecoin24h $0.0895-0.34%

Monero24h $499.89-1.82%

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.

Bithumb CEO booked in Korea over job offer bribe allegations

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 apologised for sending up to 2,000 BTC to users which led to a 10% crash on the South Korean exchange.

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.