[Bithumb Faces Another Regulatory Storm as South Korean Police Investigate Lawmaker's Alleged Recruitment Interference] Odaily Planet Daily reports that South Korean police recently raided cryptocurrency exchange Bithumb to investigate allegations that independent lawmaker Kim Byung-gi used his influence to secure a job for his son. It is reported that Kim Byung-gi's son joined Bithumb in January 2025 and worked there for about six months. Authorities are probing whether external pressure or special treatment was involved in his hiring process. Additionally, the case implicates Dunamu, the operator of South Korea's largest cryptocurrency exchange, Upbit. The scope of the investigation has expanded from recruitment issues to potential power abuse and illicit benefits. Investigators noted that Kim Byung-gi, during his tenure as a member of the National Assembly's Political Affairs Committee, repeatedly questioned Dunamu during meetings, raising suspicions about whether he sought to benefit the company employing his son. It is understood that police have previously questioned executives from multiple crypto firms and conducted searches at Bithumb's headquarters and the Bithumb Financial Tower to collect evidence. Kim Byung-gi himself is under investigation for 13 charges, including employment arrangements, bribery related to nominations, and requests concerning university transfers. He has stated that he believes he will ultimately prove his innocence. Notably, Bithumb has been under continuous regulatory pressure recently. In March of this year, South Korea's financial regulators fined Bithumb approximately $24.5 million for violations related to KYC and anti-money laundering (AML) compliance and issued a six-month partial business suspension order. However, in late April, a South Korean court temporarily stayed the enforcement of this penalty, and related legal proceedings are still ongoing. (Cointelegraph)