Lee Sang joon, former CEO of Bithumb, was released on bail after being detained for six months

According to Digital Asset, Lee Sang joon, former CEO of South Korean cryptocurrency exchange Bithumb, was released on bail after being detained for six months on conviction. Lee Sang joon was sentenced to two years in prison in the first trial for allegedly accepting bribes of hundreds of millions of Korean won to launch two cryptocurrencies on Bithumb. He was released after being detained in December 2024. The bail conditions include restrictions on changing residence, not being allowed to leave the country without court approval, paying a deposit of 50 million Korean won (36500 US dollars), and prohibiting contact with the person involved.