According to local media reports, Bithumb head Kang Jong-hyun has been arrested today in South Korea over embezzlement charges. The Seoul Southern District Court issued an arrest warrant for the businessman on Jan. 25 with multiple charges, including dereliction of duty, market manipulation, and fraudulent transactions. Why Has The Bithumb Head Been Arrested? The 41-year-old Kang Jong-hyun is the elder brother of Kang Ji-yeon, the head of Bithumb affiliate Inbiogen. The firm holds the largest share in Vidente, which is the biggest shareholder of Bithumb with a 34.2% stake. According to prosecutors, the brothers conspired to embezzle corporate funds and manipulate
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