Fun

Executive Linked to Crypto Exchange Bithumb Found Dead Outside His Home: Report

News Feed - 2023-01-04 01:01:58

Executive Linked to Crypto Exchange Bithumb Found Dead Outside His Home: Report


An executive of the largest shareholder of cryptocurrency exchange Bithumb was found dead outside his home. He allegedly committed suicide by jumping off a building while under investigation by Korean prosecutors for embezzlement and stock market manipulation. Executive Found Dead Amid Investigation of Embezzlement and Stock Price Manipulation


An executive linked to South Korea’s largest cryptocurrency exchange, Bithumb, was found dead in front of his home in southern Seoul Friday, Yonhap News reported.


The executive, surnamed Park, is the vice president of KOSDAQ-listed broadcast equipment supplier Vidente Co., the largest shareholder of Bithumb Holdings Co. that controls South Korea’s largest cryptocurrency exchange. Vidente also holds a stake in Bithumb Korea.


According to local media, the executive committed suicide by jumping off a building while being investigated by South Korean prosecutors for embezzlement and stock price manipulation.


Park’s investigations involved allegations against Kang Ji-yeon, head of the kiosk supplier Inbiogen, and her brother Kang Jong-hyun. Inbiogen is the largest shareholder of Vidente. The siblings allegedly colluded to embezzle corporate funds and manipulate stock prices. They reportedly put Park in charge of accounting.


The Seoul Southern District Prosecutor’s Office launched a full-fledged investigation into the case in October last year and raided three firms allegedly connected to Bithumb: Vidente, Inbiogen, and Bucket Studio. Prosecutors are expected to terminate their case against Park upon his death.


In July last year, Vidente said it held discussions about selling its stake in Bithumb to FTX but no deal had been reached. The collapsed crypto exchange filed for bankruptcy in November. FTX and former CEO Sam Bankman-Fried (SBF) have been charged by the U.S. government and regulators with multiple counts of fraud. Tags in this story Bithumb, crypto exchange, crypto exchange bithumb, Executive, executive found dead, executive suicide, ftx, FTX bithumb, FTX Vidente, jump off building, Korean crypto exchange, Vidente


Do you think the executive’s death was a suicide? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Bankrupt Crypto Exchange FTX to Start Letting Customers in Japan Withdraw Funds EXCHANGES | 3 days ago Kraken Shutting Down Crypto Exchange in Japan Citing Weak Global Crypto Market EXCHANGES | 6 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleIndian Government Launching Crypto Awareness Campaign Next articleSquare Enix to Deepen Its Blockchain Efforts in 2023 Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework


Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher

News Feed

Abkhazia Holds Talks With Russia to Ensure Electricity Supply for Crypto Miners
Abkhazia Holds Talks With Russia to Ensure Electricity Supply for Crypto Miners The government of Abkhazia is negotiating with Russia to solve a problem that led
Trump Signs Largest Relief Bill in US History: When Will Americans Get Stimulus Checks
Trump Signs Largest Relief Bill in US History: When Will Americans Get Stimulus Checks U.S. President Donald Trump has signed into law what he calls the largest single economic r
SUI Breakout Alert: Strong Momentum Puts $4.98 Key Level In Focus
Este artículo también está disponible en español. SUI climbing to $4.98 marks a critical juncture in its market journey, igniting speculation about its ability to breach
Malaysia Becomes the Next Country to Approve Cryptocurrency Exchange Amid Covid-19 Crisis
Malaysia Becomes the Next Country to Approve Cryptocurrency Exchange Amid Covid-19 Crisis Malaysia’s Securities Commission has given full approval to a cryptocurrency excha
Canadian Bitcoin Mine Operator Facing $7 Million Fine for Setting Up Power Plants Without Permission
Canadian Bitcoin Mine Operator Facing $7 Million Fine for Setting Up Power Plants Without Permission Link Global, a bitcoin mine operator in Canada, is facing a fine of up to $7 mi
How to growth hack Web3 marketing like an OG
Savannah Fortis8 hours agoHow to growth hack Web3 marketing like an OGThe secrets of effective storytelling in the evolving Web3 and crypto space are unlocked as Amanda Cassatt shares her insights and strategies working
Trump Token Mania: Over 6,000% Pump Or Classic Solana Trap?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin Price Crash To $100,00 Loading: Next Targets Revealed As Bears Take Over
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
WisdomTree CEO: Crypto ‘is going to go mainstream’
Alex O’Donnell4 hours agoWisdomTree CEO: Crypto ‘is going to go mainstream’Jonothan Steinberg said US presidential contender Donald Trump’s July 27 speech at Bitcoin 2024 promised much-needed regulatory clarity.1
Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation
Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing
A New Super PAC Aims to Elect BTC Advocates and ‘Vote out Anti-Bitcoin Politicians Like Brad Sherman, Elizabeth Warren’
A New Super PAC Aims to Elect BTC Advocates and "Vote out Anti-Bitcoin Politicians Like Brad Sherman, Elizabeth Warren" On Friday, Grant McCarty, the director of policy and public
Solana To New ATH Before Christmas – Analyst Expects $300 Soon
Este artículo también está disponible en español. Solana (SOL) has faced a 23% retrace after hitting new all-time highs at $264, testing the resilience of bullish momentu