• Bithumb's inside paperwork state that former CEO Lee Sang-jun was concerned within the resolution to listing cryptocurrencies.
• Though Lee has denied any involvement, data recommend he could have influenced the itemizing of DOGE and KLAY.
• Bithumb's precise proprietor, Kang Jeong-hyun, and others shall be indicted.

Prosecutors have submitted an inside Bithumb doc as new proof within the case in opposition to former Bithumb CEO Lee Sang-jun. The doc, dated Might 10, 2021, was submitted to a South Korean courtroom the place Lee is indicted on prices associated to the itemizing of cryptocurrencies on the platform.

In response to the submitting, Lee, together with former Bithumb Korea CEO Heo Baek-yong and the previous chairman of Bithumb’s Token Itemizing Evaluate Committee, could have been concerned within the selections relating to the itemizing of Dogecoin (DOGE) and KLAY.

The identification of the doc's writer stays secret, however Heo argued it might have been written by a former chairman of the committee.

Lee denies allegations, however paperwork forged doubt

Mr. Li later denied the allegations, saying he had no authority to resolve on the itemizing, however the paperwork forged doubt on his claims and recommend he could have been concerned within the itemizing course of.

The investigation into Lee started in March 2023, when South Korean authorities appeared into allegations of bribery associated to the token itemizing on Bithumb. Lee was indicted with out detention in September 2023.

Earlier this yr, the Seoul Excessive Courtroom acquitted Lee in a multi-million greenback fraud case. The courtroom discovered him not responsible of defrauding Kim Byung-gon of 110 billion gained ($82 million) throughout acquisition negotiations. This follows his earlier acquittal on comparable prices, together with the alleged solicitation of advance funds for the failed itemizing of BXA tokens on Bithumb.

In the meantime, Bithumb's helpful proprietor, Kang Jeong-hyun, can be dealing with a separate trial. He, together with two different executives, are accused of embezzlement, fraudulent buying and selling and breach of obligation. The defendants have reportedly admitted to the costs.

Additionally learn: Bithumb CEO beneath investigation for allegedly accepting bribes in alternate for false itemizing

Kang's sister, Kang Ji-young, a serious shareholder in a Bithumb-related firm, has additionally been accused of inventory worth manipulation. In a now-deleted assertion, she defended her brother and dismissed the allegations as “unconfirmed and one-sided.”