Suspect Admits Money ‘Changed Hands,’ But Denies Bribery Charges
Kang is thought to be the shadowy “real” owner of Bithumb, and has allegedly bought firms with smaller stakes in the crypto exchange.
Officials think Kang and his associates manipulated altcoin prices on the platform to their own benefit.
Kang has also been accused of using this revenue to shower gifts on his own celebrity former girlfriend.
Prosecutors think Kang and Ahn are friends. But they think Ahn may have abused his relationship with Kang to convince the latter to list the coins.
Offcials say that Ahn lied to Kang, by telling his friend in January 2022 that Lee had requested payments of over $1.5 million to “list the coins quickly.”
At a hearing at the Seoul Southern District Court in December 2023, Ahn told a judge that he and Kang had “exchanged money.”
But he denied that he had lied about receiving “a request” for money from Lee.
Celebrity Scrutiny
Ahn and Sung married in 2017. Per OSEN, some news reports have suggested that Sung may also be indirectly involved in the case.
Allegations surfaced suggesting a cosmetics company she is affiliated in received investment funding from a Kang-associated firm.
The firm has since admitted that it did receive the investment. But said that it had “immediately” returned the funds after judging that “it did not fit with the company’s image.”
Meanwhile, Digital Today reported that stablecoins have become the new battleground for Bithumb and is closest rival, Upbit.
Upbit is currently offering commission-free trading for the USDT and USD Coin (USDC) tokens until September 13.
Upbit appears to be responding to a promotional commission fee-free stablecoin trading event that Bithumb has also recently extended to September 13.