{"id":73102,"date":"2023-01-26T13:16:52","date_gmt":"2023-01-26T11:16:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73102"},"modified":"2025-09-09T12:13:58","modified_gmt":"2025-09-09T09:13:58","slug":"media-bithumb-owner-placed-on-polices-wanted-list","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-bithumb-owner-placed-on-polices-wanted-list\/","title":{"rendered":"Media: Bithumb owner placed on police&#8217;s wanted list"},"content":{"rendered":"<p>The Seoul Prosecutor&#8217;s Office issued an arrest warrant for the owner of the cryptocurrency exchange Bithumb Kan Jhon-Hen, suspected of embezzlement and manipulating the stock price of several affiliated firms. <a href=\"https:\/\/news.einfomax.co.kr\/news\/articleView.html?idxno=4251784\">Local media<\/a> report.<\/p>\n<p>According to the report, the subsidiaries involved are Bithumb&#8217;s Inbiogen and Bucket Studio, headed by Kan&#8217;s younger brother, Ji En. Prosecutors allege that he helped manipulate the stock price by issuing convertible bonds.<\/p>\n<p>In October 2022, authorities conducted searches at the offices of the aforementioned firms, as well as at Vidente, the largest shareholder of Bithumb Holdings (34.2%).<\/p>\n<p>At the end of December, the vice president of the latter was found dead. Journalist Colin Wu asserted that Korean authorities also suspected him of corruption and financial misconduct.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">According to Money Today, the vice president of Vidente, the largest shareholder of South Korean cryptocurrency exchange Bithumb, committed suicide by jumping off a building while being investigated by South Korean prosecutors, suspected of corruption and price manipulation.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1608774791150071808?ref_src=twsrc%5Etfw\">December 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier in September 2020, police <a href=\"https:\/\/forklog.com\/en\/news\/police-seize-part-of-bithumb-holdings-shares-during-third-raid-in-a-month\">conducted a series of searches<\/a> at offices of the companies linked to the exchange as part of a case involving alleged $25 million token-sale fraud. At the same time, authorities <a href=\"https:\/\/forklog.com\/en\/news\/police-seize-part-of-bithumb-holdings-shares-during-third-raid-in-a-month\">summoned for questioning<\/a> the then-CEO of Bithumb and the beneficiary of Bithumb Holdings, Lee Jong-hoon.<\/p>\n<p>Reports said Hoon was considered the real owner of the exchange. On charges of deceiving investors he <a href=\"https:\/\/forklog.com\/en\/news\/former-bithumb-chief-faces-potential-prison-term\">faced up to eight years in prison<\/a>. However, he was later <a href=\"https:\/\/decrypt.co\/118274\/former-bithumb-chairman-lee-jung-hoon-not-guilty-report\">acquitted<\/a>.<\/p>\n<p>South Korea&#8217;s National Tax Service is now <a href=\"https:\/\/forklog.com\/en\/news\/south-koreas-tax-authority-opens-investigation-into-bithumb\">investigating<\/a> possible tax violations by Bithumb Korea, Bithumb Holdings and other affiliated entities. The agency is examining the firms&#8217; internal and cross-border transactions.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Seoul Prosecutor&#8217;s Office issued an arrest warrant for the owner of the cryptocurrency exchange Bithumb, Kan Jhon Hen, suspected of embezzlement and manipulating the stock price.<\/p>\n","protected":false},"author":1,"featured_media":73103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[973,1323,974],"class_list":["post-73102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bithumb","tag-investigations","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73102"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73102\/revisions"}],"predecessor-version":[{"id":73104,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73102\/revisions\/73104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73103"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}