Bithumb's former chair Lee Jung-Hoon found not guilty: Korea Economic Daily
UPDATED: January 3, 2023, 4:07AM EST

<span class="acf-media-credit"><span class="acf-credit"><span class="acf-credit"><a href="https://www.shutterstock.com/image-photo/korea-flage-building-background-623078393" target="_blank">Shutterstock</a></span></span></span>
Quick Take
- Bithumb’s former chair, Lee Jung-Hoon, was reportedly found not guilty by the Seoul Central District Court.
- Jung-Hoon was accused in October 2018 of fraud related to the crypto exchange’s acquisition.
Advertisement
The former chair of the South Korean crypto exchange Bithumb, Lee Jung-Hoon, was reportedly found not guilty by the Seoul Central District Court's 34th Division of the Criminal Agreement.
Jung-Hoon was accused in October 2018 of fraudulently violating the Act on the Aggravated Punishment of Specific Economic Crimes while negotiating for Bithumb's acquisition from Kim Byung-Gun — allegations that could have resulted in an eight-year prison sentence.
The ruling comes less than one week after the executive of Bithumb's largest shareholder was reportedly found dead. The executive was accused of embezzlement and stock-price manipulation.
Updated for clarity.

