Police Raid Bithumb Over Alleged Preferential Hiring of Rep. Kim Byung-gi’s Younger Son, Summon for Questioning on Feb. 26–27

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Police have launched a forced investigation into cryptocurrency exchange Bithumb over allegations of preferential hiring involving the younger son of independent lawmaker Kim Byung-ki.

The Public Crime Investigation Unit of the Seoul Metropolitan Police Agency announced that starting at 9:40 a.m. on the 24th, investigators were dispatched to two locations, including Bithumb’s headquarters and Financial Tower in Gangnam-gu, Seoul, to carry out search and seizure operations in connection with bribery allegations against Rep. Kim. The investigation team is reportedly securing materials related to the overall hiring process, internal decision-making documents, and communication records of those involved.

Police are examining whether Rep. Kim exercised undue influence within the cryptocurrency industry to secure employment for his younger son. According to a statement from Kim’s former aide, there are indications that between September and November 2024, Kim attempted to solicit hiring favors from Bithumb and Dunamu.

Kim’s younger son joined Bithumb in January last year and worked there for approximately six months. Authorities plan to focus on verifying whether the hiring process followed standard procedures and whether any external pressure was exerted. They are also reviewing whether Kim took positions favorable to Bithumb during his legislative activities.

Police are investigating a total of 13 allegations surrounding Rep. Kim and plan to summon him for questioning as a suspect on the 26th and 27th to confirm relevant facts. Observers say the scope of the investigation could expand depending on the outcome of the search and seizure.

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