In addition to the alleged ICO fraud, Lee Jung-hoon is also under investigation for alleged fraud, tax evasion and transferring assets out of South Korea irregularly, authorities said.
South Korea’s biggest internet company Naver has joined the race to acquire a stake in Bithumb digital currency exchange.
The new measures include enhanced Know-Your-Customer verification processes, as well as the introduction of new specialized blockchain intelligence technologies.
Bithumb, considered to be one of the top digital currency exchanges in South Korea, is giving away free Bitcoin SV as part of its 7th anniversary celebrations.
Korean-Japanese video game publisher Nexon has signed a memorandum of understanding with Bithumb to buy the exchange for $460 million.
The South Korean exchange cited the increasing COVID-19 infections and more stringent social distancing rules as the reasons for closure.
Bithumb shareholders are reportedly open to the idea, which would see Huobi carrying on the business of Bithumb in South Korea after the implementation of new digital currency laws in the country.
The investor had taken Bithumb exchange to court in connection with the losses, which he alleges were the result of a 2017 data breach.
The Bithumb exchange is for sale. According to officials, Bithumb is selling their exchange because investors are trying to recover their investment.
Bithumb exchange chairman Lee Jung-hoo has been summoned to court in regard to the Bithumb fraud investigation; Lee is accused of fraud and evading property.
The Seoul Central District Court has ruled that shares in Bithumb should be seized from major investors due to the ongoing Bithumb fraud investigation.