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flag South Korean prosecutors raided cryptocurrency exchange Bithumb over alleged misuse of funds by a former CEO.

flag South Korean prosecutors raided Bithumb, a major cryptocurrency exchange, over allegations that the company misused funds to help a former CEO secure an apartment rental deposit of about $2.6 million. flag Bithumb has acknowledged some of the claims, stating the former CEO repaid the funds. flag This incident follows a series of regulatory actions in South Korea’s cryptocurrency sector, which has been under increased scrutiny.

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