South Korea arrests Bithumb crypto-exchange owner

The Seoul prosecutor's office has issued  an arrest warrant for the real owner of crypto exchange Bithumb, businessman Kang Jong-hyun. He is accused of financial fraud through partner companies.

Local authorities have accelerated their investigation in the wake of the recent high-profile incident. Recall that Bithumb's largest shareholder committed suicide, unable to withstand the pressure of the investigation. The person in question is the vice president of Vidente.

As for Bithumb itself, the platform is suspected of illegal transactions, concealment of proceeds and money laundering.