South Korean police name Bithumb CEO suspect in bribery

South Korean police have formally named the chief executive of cryptocurrency exchange Bithumb as a suspect in a bribery investigation centered on allegations of political influence and preferential hiring. The Seoul Metropolitan Police Agency’s Public Crime Investigation Unit booked CEO Lee Jaewon on Thursday, June 11, 2026, intensifying a months-long probe into whether jobs at the exchange were arranged for the son of an independent lawmaker.

The investigation focuses on allegations that lawmaker Kim Byungki, who serves on the National Assembly’s Political Affairs Committee, requested that Bithumb hire his second son. According to police, a statement from a former aide indicates Kim and Lee met at a restaurant in Seoul’s Mapo district in November 2024, where the request was allegedly discussed. The son was hired in January 2025 and worked at the exchange for approximately six months. Investigators are also examining a separate allegation that an aide from Kim’s office was hired by Bithumb in September 2025.

Authorities are further scrutinizing whether Kim later used his parliamentary position to apply pressure on Dunamu, the operator of Bithumb’s rival exchange Upbit. The...