A vice president of Vident, a division of virtual currency exchange Bithumb, was found dead today in front of his residence in Dongjak-gu, Seoul, South Korea.
South Korean investigators are probing Bithumb’s management for alleged fraud and stock price manipulation. The matter is being investigated by the police. according to local news blog money todayA man publicly identified as Mr Park Mo, a major shareholder of Bithumb, was found dead at his residence in Seoul.
The cause of death is currently unknown, and authorities are investigating to determine the circumstances surrounding the incident. Police said the death is being treated as a suicide. The official also said that optometric and CCTV analysis at the spot has indicated that there is no other possibility at this point of time.
Suspicions have been raised about the Kang siblings, who are accused of making illegal profits by manipulating stock prices and selling convertible bonds, as well as setting up slush funds by siphoning off millions from established firms under borrowed names. Has been.
There are allegations that Park’s decision was influenced by the fact that the Kang siblings had stolen and stock price manipulation for others.
bithumb At present, no statement has been issued on this matter. The investigation is ongoing, and further information will be provided as they become available.
Kang Ji-yeon embezzlement case
Park was under investigation in connection with allegations by Kang Ji-yeon, the CEO of kiosk supplier Inbiogen, which owns a majority stake in Vident, and his brother Kang Jong-hyun, who is also under investigation.
On October 7, Financial Investigation Division 2 of the Seoul Southern District Prosecutor’s Office subpoenaed Vident, Inbiogen and Bakkt Studios to uncover the circumstances behind Kang’s brother and sister’s conspiracy to steal from the firm or manipulate stock prices. such as raided and investigated associated businesses. ,
South Korean crypto scene
A volatile 2022 has prompted governments around the world to take a closer look at the cryptocurrency industry. The South Korean government, in particular, increased its interest in digital currencies and decided to regulate them.
It is noteworthy that the Bithumb issue is one of the most high-profile crises affecting the South Korean crypto sector. according to local news outlet newsisIn August, 16 people were caught by South Korean customs officials for their involvement in illegal foreign exchange operations.
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