Former Bithumb Chairman Accused of 110 Billion Won Fraud

Appeal Verdict in January to Determine Future of Bithumb Scandal

Former Bithumb chairman Lee Jeong-hoon faces an eight-year prison term over alleged fraud, involving a 110 billion won scam. The case, which brings to light the difficulties of crypto guidelines, is awaiting an appeal decision in January. 

The accusations focus on governance restructuring, deceptive practices, and proposals that aim to avoid financial regulations. The outcome may reshape regulatory norms for crypto exchanges in South Korea and beyond, impacting investor confidence.