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# South Korean Bithumb Criminal Investigation Translation (to English) > *The full text of the article is published below for convenience*: "On the 2nd, the police confiscated the headquarters of Bithumb Korea, the largest cryptocurrency exchange in Korea, and forced investigations into various suspicions in earnest. Bithumb is the first in domestic sales volume and the fifth-largest dinosaur-class cryptocurrency provider in the world in terms of transaction volume. What the Seoul Metropolitan Police Agency's Intelligent Crime Investigation Unit looks into is whether the investment fraud related to the cryptocurrency BXA token was involved by Bithumb's true owner, Lee Jung-hoon (44), Chairman of the Board of Directors of Bithumb Holdings and Bithumb Korea and Kim Byung-gun (57), BK Group Chairman. Chairman Lee's side has denied allegations of fraud, saying, "Chairman Kim led the issuance of BXA tokens." On the other hand, Chairman Kim refuted, "Before issuing the BXA token, Chairman Lee promised to list it, but he violated it." It seems that Bithumb's issue of BXA tokens and whether to secure evidence that directly intervened in unlisted will be the key to the police investigation. BXA tokens, which were called'Bithumb Coins', were sold at 150-300 won each, worth 30 billion won, but the current market price is about 1/100 of the issue price as Bithumb's listing was canceled. BXA investors raised their voices saying, "Even though Bithumb Korea executives promised to list Bithumb at the BXA investment briefing in Singapore in 2018, the lives of the victims are also collapsing as they come and uncover it." The search for seizure on this day is also interpreted as a notice of intense investigation into the suspicions raised against Lee. The Seoul Metropolitan Government is also looking into the charges of non-compliance with the financial authorities while Chairman Lee signed a contract to transfer 400 billion won worth of Bithumb Holdings stock with Chairman Kim in October 2018. It was also confirmed that the police are investigating the suspicion that Bithumb's domestic listing fee revenue,'listing blood', was taken as a ghost investment corporation established in British Virgin Islands (BVI), an overseas tax haven. A police official said, "Not only are the suspicions of evacuating property, but also the suspicion of the outflow of proceeds related to domestic listing fees are on the investigation line." Reporter Taekwon Lee rights@seoul.co.kr ■We track cryptocurrency crimes together. We look forward to your report. Coinsherlock website (https://coinsherlock.seoul.co.kr)""