Report: Seoul Police Raid Bithumb HQ in Probe Tied to Lawmaker’s Son

Seoul police reportedly executed a second search warrant at Bithumb’s headquarters on Monday as investigators pressed deeper into a corruption probe centered on independent lawmaker Kim Byung-ki.

The Seoul Metropolitan Police Agency’s Public Crime Investigation Unit was said to have arrived at Bithumb’s Gangnam-gu offices on Monday morning, marking the second compulsory search of the exchange since February. The first raid took place Feb. 24, 2026, covering both the Bithumb headquarters and the company’s Financial Tower location.

The probe focuses on whether Kim Byung-ki used his legislative position to secure favorable employment at Bithumb for his second son. According to local media reporting, Kim allegedly made employment requests to Bithumb between September and November 2024. The son was reportedly hired in early January 2025 and worked at the exchange for approximately six months.

Kim faces 13 separate suspicions in the broader investigation, including nomination bribery. South Korea’s police have summoned him approximately seven times over the course of a nine-month inquiry.

Monday’s raid is not Bithumb’s first encounter with investigators. Tax authorities and police searched the exchange in 2018 over alleged tax evasion. Seoul police returned in 2020 over suspected investment fraud tied to token listings. Prosecutors raided in 2023 over alleged price manipulation of locally issued tokens, and again in 2025 over embezzlement allegations involving a former executive.

Police have stated that several aspects of the broader Kim Byung-ki investigation require additional work before conclusions can be drawn. No formal charges have been announced. If any materials were seized on Monday, it could accelerate the timeline.