Seoul police raid Bithumb HQ again in lawmaker hiring probe

Seoul Metropolitan Police Agency officers carried out a morning search of Bithumb’s Gangnam offices on June 8, 2026 as part of an investigation into possible improper hiring linked to independent lawmaker Kim Byung-ki.

The action was a second compulsory search of Bithumb since February. The earlier inspection on Feb. 24 covered the company’s headquarters and a separate Financial Tower office. Company officials were summoned as witnesses in February and April; investigators say they are seeking material evidence beyond witness testimony.

Police are examining whether Kim used his position in the National Assembly to arrange favorable employment at Bithumb for his second son. Investigators report Kim made employment requests to the exchange between September and November 2024. The son was hired in early January 2025 and worked at Bithumb for about six months.

Kim served on the Assembly’s Political Affairs Committee, which has oversight of financial and digital asset regulation. Investigators are also reviewing whether inquiries Kim directed to Dunamu, operator of rival exchange Upbit, were intended to benefit Bithumb and whether any pressure from those inquiries affected the hiring decision.

Kim is subject to 13 separate suspicions in the wider probe, including allegations related to nomination bribery. He has been summoned by police roughly seven times during a probe that has lasted about nine months. No formal charges have been filed to date.

Bithumb has denied any irregularities in the recruitment process, saying the hiring followed standard procedures. The exchange ranks among the top 20 globally by trading volume and is the second-largest in South Korea; its reported 24-hour trading volume was about $576 million.

Bithumb has faced previous law enforcement and regulatory actions: tax and police searches in 2018 on tax-evasion suspicions; police inspections in 2020 over suspected investment fraud tied to token listings; a prosecutors’ raid in 2023 on alleged price manipulation of locally issued tokens; and a 2025 raid linked to alleged embezzlement by a former executive.

A separate systems error in February 2026 briefly credited user accounts with about 620,000 BTC. That technical incident prompted investigations by the Financial Supervisory Service and actions by the Financial Intelligence Unit, including a partial suspension notice and disciplinary measures against the CEO. Authorities have said that regulatory probe was distinct from criminal investigations by the police.

Police and prosecutors have not released detailed findings from the June 8 search. The scope of the warrant and whether documents or electronic data were seized have not been confirmed. Authorities have indicated that any significant material recovered could affect the timing or content of future charges.