South Korean lawmaker probed for alleged attacks on Upbit after son joined Bithumb

Beincrypto reports South Korean police are investigating ruling party lawmaker Kim Byung-kee for allegedly using his parliamentary position to attack cryptocurrency exchange Upbit after his son joined rival platform Bithumb. Kim, a former National Intelligence Service personnel director, faces at least nine separate corruption allegations, several involving claims of nepotism.

According to a local media report, after his transfer to the National Assembly’s Political Affairs Committee following the April 2024 general election an aide told investigators Kim met Dunamu’s CEO multiple times between September and November 2024, bringing his younger son to dinners and reportedly handing over the son’s resume.

The son joined Bithumb in January 2025; the aide said Kim then instructed staff to prepare parliamentary questions attacking Dunamu, repeatedly saying the company “needs to be taught a lesson” and should be “shut down.” In February 2025 Kim formally questioned the Financial Services Commission chairman about Dunamu’s market dominance, and the FSC chief said he would consult the Fair Trade Commission.

Key Topics

Crypto, Kim Byung-kee, Upbit, Bithumb, Dunamu, National Intelligence Service