<p>The Seoul Metropolitan Police Agency has reportedly summoned Lee Jung Hoon, the chairman of Bithumb, for alleged fraud.</p> <p>South Korea's state-run news agency Yonhap <a href="https://www.yna.co.kr/view/AKR20200918092300004?input=1195m">reported</a> Friday, saying that Lee, 44, is under investigation by the police. Lee is accused of pre-selling Bithumb's native BXA tokens worth about 30 billion won (~$25 million) to investors and then not listing the token, which has allegedly led to investors' losses.</p> <p>Bithumb once<a href="https://thenews.asia/investors-rail-against-bithumb-over-bxa-token/"> issued BXA tokens</a> concerning its acquisition by Singapore based BK Group, but that <a href="https://www.theinvestor.co.kr/view.php?ud=20190930000685">deal didn't materialize</a>. Lee is also charged with evading property abroad. <br /> <br /> BK Group chairman Kim Byung-Gun, 57, is also accused of the alleged fraud, but he is reportedly not under police investigation.</p> <p>The summon follows <a href="https://www.seoul.co.kr/news/newsView.php?id=20200907500164">two</a> <a href="https://www.theblockcrypto.com/linked/76692/police-reportedly-seize-bithumb-south-korea-crypto-exchange">police raids</a> on Bithumb in recent weeks. On Wednesday, the Seoul Central District Court is said to have also <a href="http://www.newsfreezone.co.kr/news/articleView.html?idxno=260700">seized</a> Kim's shares in Bithumb. Accounting giant Samjong KPMG reportedly oversaw the seizure.</p>