Prosecutors raided the offices of Upbit and Bithumb, Korea's two largest crypto exchanges, on Monday in connection with the investigation into a controversial cryptocurrency investment made by Kim Nam-kuk.
Rep. Kim Nam-kuk, formerly a member of the Democratic Party, leaves his office at the National Assembly in western Seoul on May 9. [YONHAP]
Prosecutors raided the offices of Upbit and Bithumb, Korea's two largest cryptocurrency exchanges, on Monday in connection with the investigation into a controversial cryptocurrency investment by former Democratic Party lawmaker, now independent, Kim Nam-kuk.
The court rejected the prosecutors' earlier request for a search and seizure warrant to investigate Kim's investments.
Kim since last week has been implicated in massive cryptocurrency investment controversies, most of which are minor tokens that are unknown.
![Rep. Kim Nam-kuk, formerly a member of the Democratic Party, leaves his office at the National Assembly in western Seoul on May 9. [YONHAP]](https://img3.daumcdn.net/thumb/R658x0.q70/?fname=https://t1.daumcdn.net/news/202305/16/koreajoongangdaily/20230516103140414jhrr.jpg)