Prosecutors have accused former CEO Kim Dae-sik of misappropriating a significant lease deposit for personal gain. Bithumb asserts that Kim took a loan post-investigation to repay the funds, which complicates the ongoing scrutiny of the company.

This inquiry is particularly sensitive as Bithumb seeks to launch its initial public offering. Previous scandals involving the exchange’s leadership raise questions about financial governance, intensifying the need for transparency in light of their IPO ambitions.