Police Reportedly Raid Headquarters of Bithumb, South Korea’s Largest Exchange

[Galaxy]

South Korean authorities have reportedly seized Bithumb, one of the country’s biggest cryptocurrency exchanges by trading volume.

The Seoul Newspaper reported Wednesday that officers from the Seoul Metropolitan Police Agency's Intelligent Crime Investigation Unit had raided Bithumb's headquarters, located in the capital's central Gangnam District.
The police action was apparently linked to a $25 million token sale hosted on Bithumb and a proposed acquisition by a Singapore platform, BTHMB, that never materialized.
Info Link: https://www.coindesk.com/police-raid-headquarters-for-bithumb-koreas-largest-exchange

[highnayem34]

Bithumb's chairman, Lee Jung-hoon, has been accused of fraud and illicitly sending funds overseas.
CoinDesk has approached Bithumb for confirmation.
This is the second raid on a South Korean cryptocurrency exchange in a week.