Seoul police book Bithumb CEO Lee Jae-won on bribery charges tied to a job favor for a South Korean lawmaker’s son.
Seoul police have booked Bithumb CEO Lee Jae-won as a bribery suspect. The Seoul Metropolitan Police Agency’s Public Crime Investigation Unit is leading the probe.
Investigators allege Lee hired the son of independent lawmaker Kim Byung-kee following a direct request. The case also pulls the sitting parliamentarian into the spotlight. Both men now sit at the center of a widening political and corporate scandal.
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Bithumb CEO Accused of Hiring Lawmaker’s Son
According to Yonhap, police received a statement from a former aide to Representative Kim. That aide alleged Kim met with CEO Lee at a restaurant in Mapo, Seoul, in November 2024.
During that meeting, Kim reportedly asked Lee to hire his second son. Investigators say Lee followed through and the hiring actually took place.
Police conducted a second search of Bithumb’s Gangnam-gu headquarters on June 8. It was during that search that Lee was formally named a bribery suspect.
The first raid on Bithumb happened in February, at which point Kim was the named suspect and Bithumb served only as a witness. The status of both men has shifted significantly since then.
South Korean Police Book CEO of Second-Largest Crypto Exchange Bithumb as Bribery Suspect
According to Yonhap, Seoul police have booked Bithumb CEO Lee Jae-won as a bribery suspect over allegations that he helped secure a job at Bithumb for the son of independent lawmaker Kim… pic.twitter.com/lWtaQqkQFK
— Wu Blockchain (@WuBlockchain) June 11, 2026
Legislative Favoritism at the Center of the Investigation
Investigators are now looking beyond the hiring itself. Police suspect Kim used his seat on the National Assembly’s Political Affairs Committee to benefit Bithumb.
Specifically, they allege Kim directed his legislative focus toward “pointing out monopoly issues” targeting Dunamu. Dunamu operates Upbit, which is Bithumb’s main competitor in the South Korean market.
The allegation suggests Kim’s parliamentary activities were not independent.
Rather, police believe those activities served as a return favor for his son’s employment. That angle makes this probe more than a standard hiring scandal. It raises direct questions about the integrity of legislative oversight in South Korea’s crypto sector.
Second Hiring Allegation Adds to the Case
The investigation does not stop at the lawmaker’s son.
Police are also examining whether Kim asked Bithumb to hire a former aide from his own office, identified only as “A.” That individual reportedly joined Bithumb in September of last year.
Investigators plan to summon A and other relevant parties for questioning once they finish analyzing materials seized during their searches.
The full scope of the case is still unfolding. Police have not concluded their investigation, and no charges have been filed in court yet. Yonhap reports that authorities will continue interviewing witnesses to piece together the circumstances surrounding both hires.
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