Bithumb Raided Again as Kim Byung-ki Son Hiring Bribery Probe Expands

Seoul police have carried out a second raid on Bithumb’s headquarters in an anti-corruption probe involving lawmaker Kim Byung-ki. Investigators from the Seoul Metropolitan Police Agency visited Bithumb’s Gangnam office and another site, extending scrutiny that began with a first search on Feb. 24, 2026, and later witness calls in April. Police allege Kim used his position to help his second son get hired at Bithumb. Reports say the hiring requests were made between Sep–Nov 2024, the son started in early Jan 2025, and worked there for about six months. The case also targets potential governance pressure: officers are checking whether Kim’s parliamentary activities and questions to Dunamu (operator of Upbit) were linked to the employment arrangement. The probe covers 13 suspicions, including alleged nomination bribery. Kim has been summoned around seven times over nine months, but police say the investigation is not complete. Bithumb denies wrongdoing and says the hiring followed normal procedures. No formal charges have been filed yet. For crypto traders, the key takeaway is that Bithumb is still facing regulatory and legal headline risk tied to governance and employment—an uncertainty that can raise short-term sentiment volatility. Note: this criminal probe is separate from the earlier Feb. 2026 platform error that briefly credited accounts with about 620,000 BTC.