In spite of legal difficulties, South Korean prosecutors are requesting an 8-year sentence for the former Bithumb chair in a fraud case, as the company plans to go public in 2025.
Appeal for Fraud Against Former Bithumb Chair The former chair of the large cryptocurrency exchange Bithumb, Lee Jeong-hoon, is being prosecuted in South Korea and faces an eight-year prison sentence.
The Seoul Economic Daily claims that this is the most recent development in a well-known fraud case.
In 2018, Lee was charged with fraud in connection with a possible takeover of Bithumb. Even though he was previously released from prison, his final sentence will be determined on January 18, 2024.
Despite legal challenges, Bithumb intends to go public. In spite of the legal proceedings, Bithumb intends to go public in 2025 with the intention of being listed on the Kosdaq. The underwriter for the IPO will be Samsung Securities.