Wu Blockchain also said that some intermediary fees ranged from 3% to 5% of entire token supplies. Upbit demands evidence of collecting listing feesUpbit responded to Wu Blockchain’s claims, asking her to “clearly disclose the list of digital asset projects that have paid the brokerage fees mentioned in X and provide specific evidence and data to ensure that our fact-finding and investigation proceed smoothly.”Additionally, the exchange demanded additional information on the accusation of conducting illegal brokerage activities through intermediaries.
South Korean prosecutors raided crypto exchange Bithumb following suspicions that its former CEO embezzled funds to purchase an apartment. On March 20, Seoul’s Southern District Prosecutors’ Office reportedly searched Bithumb’s offices in the country.
The investigation centered around allegations that the crypto exchange gave a 3 billion Korean won (over $2 million) apartment lease deposit to Kim Dae-sik, its former CEO and board member, who now works as an adviser to the firm. Prosecutors raised concerns over potential financial misconduct within the company, suspecting that Kim used some of the funds to purchase a personal apartment.
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Author / Journalist: Cointelegraph by Ezra Reguerra
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