The Financial Supervisory Service (FSS) reported ₩11.6 billion in housing lease deposits for four current and former Bithumb executives, a finding now tied to a fresh prosecution search of the exchange.
The search at crypto exchange Bithumb’s Seoul headquarters happened on Oct. 28 ET, which was the morning of Oct. 29 in South Korea. Major Crimes Prosecution Division 3 conducted the search. An official from the Seoul Southern District Public Prosecution Office said the inquiry concerns funds associated with a former chief executive’s apartment purchase.
The same inquiry included an earlier search of the headquarters on March 20, 2025. In a March 2025 report, the FSS said Bithumb had no policies setting limits or time periods for housing support, or explaining how the deposits should be recovered.
The FSS cited a current executive’s authorization of a ₩3 billion housing lease deposit for personal use. The regulator also said a former executive who served as an adviser received ₩1.1 billion for a residence he had purchased, then rented the property to another person for a ₩2.8 billion deposit.
Bithumb said after the FSS findings that it planned to reassess its housing support program and tighten internal oversight.
