TechFlow news — On September 2, Seoul police raided Bithumb, South Korea's largest cryptocurrency exchange. Lee Jung-hun, chairman of Bithumb Korea's board of directors, is under investigation for fraud and asset embezzlement. According to the Seoul Metropolitan Police Agency, the raid was related to an investment scam concerning the issuance of the BXA token. Victims of the BXA scheme stated that Lee and others pre-sold 30 billion KRW worth of tokens, claiming they would be listed on Bithumb, but the token was never actually listed, resulting in significant losses. (seoul.co.kr)
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