Prosecutors in South Korea raid cryptocurrency exchanges Upbit and Bithumb after connections to a local politician facing allegations of suspicious crypto activity.
Prosecutors in South Korea raided the offices of two local cryptocurrency exchanges due to investigations surrounding the digital assets of lawmaker Kim Nam-kuk.from the South Korean news agency Yonhap, a team of prosecutors from the Seoul Southern District Prosecutors Office raided cryptocurrency exchanges Upbit and Bithumb for transaction records and other materials.
on May 14. His departure is tied to several allegations against him due to allegedly suspicious crypto dealings while he worked on digital asset legislation in May and November of 2022.from the former lawmaker, he did not want to “burden” his fellow party members with the controversy surrounding his crypto dealings. In the same post, he also said that the accusative media reports had “false facts” and that he would “reveal the truth.
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