Summary:
South Korean prosecutors have requested the arrest of a former professional golfer and the CEO of Bithumb, a major crypto exchange in the country. The prosecutors suspect that the golfer, Ahn Seong-hyun, and the CEO, Lee Sang-jun, may have listed tokens on the exchange in exchange for bribes. Ahn is believed to be a close friend of Kang Jong-hyun, the alleged majority owner of Bithumb. Investigators think Ahn accepted a bribe from the issuer of an unnamed domestic coin and persuaded Kang to list the token. Lee is accused of receiving illegal payments from Kang to facilitate the listing.
Key Points:
• South Korean prosecutors have asked for the arrest of a former pro golfer and the CEO of Bithumb.
• Golfer Ahn Seong-hyun and CEO Lee Sang-jun are suspected of listing tokens on the exchange in exchange for bribes.
• Ahn is believed to be a close friend of Kang Jong-hyun, the alleged majority owner of Bithumb.
• Investigators think Ahn accepted a bribe from the issuer of an unnamed domestic coin and persuaded Kang to list the token.
• Lee is accused of receiving illegal payments from Kang to facilitate the token’s listing.
Hot Take:
The request for the arrest of the former pro golfer and Bithumb’s CEO highlights the ongoing investigation into alleged bribery and manipulation in South Korea’s crypto industry. This case raises concerns about the integrity of token listings on exchanges and the potential for corruption within the industry. It also underscores the need for regulatory oversight and enforcement to ensure fair and transparent practices in the crypto market.
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