Bithumb CEO booked as bribery suspect in hiring probe

South Korean police have booked Bithumb's chief executive as a bribery suspect in an investigation into a lawmaker's hiring of staff, police said.

Booking in South Korea means a person has been formally registered as a suspect and questioned under suspicion of a criminal offense; it does not necessarily indicate an arrest or that prosecutors have filed charges.

Authorities said the suspect report follows an inquiry into whether payments or other benefits were provided in relation to recruitment decisions for the lawmaker's office. Investigators questioned multiple people and reviewed documents and electronic records tied to staff appointments.

Investigators interviewed several current and former staff members and collected materials from the lawmaker’s office and external business premises. Police said they focused on communications and financial transactions that could show links between business figures and the lawmaker's recruitment of certain aides.

A police official provided a written summary of the action: “We have booked the individual on suspicion of bribery following our review of the materials gathered so far.” Prosecutors will review the police files and decide whether to seek arrest warrants or pursue indictments.

Bithumb issued a brief statement: “We will fully cooperate with the investigation and provide requested documents and assistance.” The company declined to comment on specifics about the chief executive’s questioning or the contents of the probe.

The lawmaker at the center of the investigation has not issued a public comment, and the office did not immediately respond to requests for comment. Legal experts described booking as an early step in South Korea's investigative process, after which prosecutors may take over if they determine the evidence warrants formal charges.

Bithumb is one of South Korea's largest cryptocurrency exchanges and has faced regulatory and security issues in the past. Police said the investigation is ongoing and that they will continue to gather evidence and interview witnesses. The timing of any arrest warrants, indictments or court proceedings will depend on the prosecutors' review of the case.