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South Korean police raided Bithumb’s Seoul headquarters again on June 8, renewing a corruption probe into independent lawmaker Kim Byung-kee and alleged hiring favors for his son.
The renewed search keeps Bithumb inside a political investigation involving alleged hiring requests at crypto companies. The case also involves Dunamu, the operator of Upbit, as investigators examine whether any hiring requests were linked to legislative pressure.
Seoul Police Search Bithumb’s Gangnam Headquarters
The Seoul Metropolitan Police Agency’s Public Crime Investigation Unit sent investigators to Bithumb’s headquarters in Gangnam-gu to execute a search and seizure warrant. Police also searched Bithumb in February as part of the same case.
That earlier raid covered Bithumb’s headquarters and Bithumb Financial Tower in southern Seoul. At the time, police said they were examining whether money or any improper benefit was exchanged in connection with the alleged hiring process.
Kim’s Son Worked at Bithumb for 6 Months
Kim is suspected of seeking job favors from Bithumb and Dunamu between September and November 2024. His second son joined Bithumb in January 2025 and worked there for about six months, local reports said.
Former aides reportedly told police that Kim showed interest in crypto companies while discussing his son’s employment. Investigators are checking whether the hiring process was proper and whether any quid pro quo was involved.
Dunamu Questioning Added Pressure Claims
The case also includes allegations that Kim used his National Assembly role to pressure Dunamu after the Upbit operator allegedly refused an employment request. Kim served on the political affairs committee, which oversees South Korea’s Financial Services Commission.
Reports said Kim repeatedly questioned Dunamu during committee sessions, prompting suspicions that the pressure may have been retaliatory. Police previously summoned exchange executives as witnesses in February and questioned Bithumb officials again in April.
Probe Covers 13 Corruption Allegations
Police are investigating 13 corruption allegations involving Kim, including alleged nomination bribery. Kim had been summoned for questioning seven times through April.
The next step is whether the latest seized materials show evidence of an improper hiring arrangement or legislative pressure tied to crypto exchanges. For Bithumb, the case is not about trading operations, but it puts the exchange back under political and law-enforcement scrutiny.
