Crypto exchanges that don't register by Sept. 24 face being shut down in South Korea.
Lee Jung-hoon allegedly took the funds from BK Group owner Kim Byeong-gun as an upfront "contract fee" in acquisition negotiations.
The move may mean the investigation is beginning to intensify.
Local officials are said to have raided Bithumb's offices for the second time in a week as part of a fraud investigation.
Crypto exchange Bithumb has reportedly been seized by police in Seoul on allegations that its chairman engaged in investment fraud.
The Bithumb exchange is tapping investigative tools offered by Chainalysis just a week after South Korea voted for tough new laws around the space.
The South Korea-based exchange is fighting a move by the country's tax authority to withhold over $69 million in tax on foreign cryptocurrency transactions.
South Korea's National Tax Service will withhold tax worth $70 million from the country's largest crypto exchange Bithumb.
Bithumb Global is launching an "exchange-as-a-service" platform through its new namesake blockchain platform.
A fintech firm's acquisition of Bithumb reportedly hasn't been fully paid for, even after a deadline was extended.
Bithumb will assemble a committee to periodically review its listed cryptocurrencies.
Bithumb, South Korea’s largest cryptocurrency exchange, has posted a net loss of 205.5 billion won ($180 million) for 2018.
South Korean crypto exchange Bithumb has had over $13 million in EOS stolen in a hack, but says customer funds are safe.
Bithumb, the largest cryptocurrency exchange in South Korea, is halving its staffing levels through voluntary redundancies.
South Korean cryptocurrency exchange Bithumb plans to expand in the Middle East, starting with a licensed exchange in the UAE.