Media: Bithumb Bitcoin exchange put up for sale again

South Korean cryptocurrency exchange Bithumb is again seeking a buyer. The deal is being led by Samjong KPMG, Herald Corporation reports, citing sources.

The value of the trading platform ranges from $430 million to $600 million. According to sources, foreign investors and local private equity funds have expressed interest.

The outlet notes that a genuine buyer would have to undergo arduous procedures because of Bithumb’s current problems.

Earlier, on 18 September, the CEO Lee Jung-hoon was called to testify in a case of fraud involving the native Bithumb token BXA. According to investigators, he raised about 30 billion won (~$25 million) in a pre-sale but did not list the coin.

Earlier, Seoul police carried out several searches at Bithumb offices and seized a portion of the shares of Bithumb Holdings owned by the director of Bithumb Korea Kim Ben Ge-nu.

In 2018, the crypto exchange was put up for sale at a price of $350 million. At that time, the Singapore-based BK Global Consortium expressed interest in the deal. A year later, reports emerged of the purchase falling through.

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