Bithumb Exchange’s Offices Raided Again by Korean Authorities: Report

South Korean officials are said to have raided the offices of cryptocurrency exchange Bithumb for a second time in a week.

• The Seoul Newspaper reported Tuesday that the Seoul Metropolitan Police Agency's Intelligent Crime Investigation Unit had entered Bithumb's Seoul headquarters and seized evidence relating to a fraud investigation.
• The raid was again linked to a $25 million token sale hosted on Bithumb and a proposed acquisition by a Singapore platform, BTHMB, that never materialized.
• Some investors have reportedly lost millions and Bithumb's chairman, Lee Jung-hoon, has been accused of fraud and illicitly sending funds overseas.
• Bithumb, one of the largest exchanges in South Korea by trading volume, was raided for the first time last Wednesday.
• Authorities this time targeted the offices relating to Bithumb Holdings, the parent of Bithumb Korea, which operates the Bithumb exchange.
• “Everything is going fine,” Bithumb told CoinDesk when contacted for comment.

See also: South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading