Bithumb raided again over alleged misuse of executive funds

South Korean prosecutors have raided cryptocurrency exchange Bithumb's headquarters as part of an ongoing investigation into allegations that former and current executives misused company funds allocated for luxury housing. South Korean prosecutors raided Bithumb's headquarters in Seoul on October 29 as part of an ongoing investigation into allegations that executives misused company funds allocated for luxury housing. The investigation follows findings by the Financial Supervisory Service that Bithumb provided 11.6 billion won in housing benefits to four former and current executives, with some funds suspected of being used for personal purposes.