Suicide Committed by Vice President of Bithumb's Largest Shareholder, Here's What Happened

According to multiple sources, the body of a Mr. Park, vice president of Vidente Co, a company closely related to the major South Korean exchange Bithumb and its largest shareholder, was found in front of his house. The police believe it was suicide as he had jumped out of a window and gotten himself killed on Friday morning local time.

According to Money Today, the vice president of Vidente, the largest shareholder of South Korean cryptocurrency exchange Bithumb, committed suicide by jumping off a building while being investigated by South Korean prosecutors, suspected of corruption and price manipulation.

— Wu Blockchain (@WuBlockchain) December 30, 2022

Park made this choice in the middle of an investigation regarding his role in the embezzlement and manipulation of Bithumb's share price on the stock market, in which the head of the firm's parent company is also believed to be involved.

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An investigation is also taking place into several top executives of related Inbiogen company, which holds a major stock of shares of Vidente. As a source reports, Park worked for them and did the accounting part. It has also been alleged that those sibling-executives had placed all the blame on Park.

Now, the Park case is expected to be closed upon his death.

As reported by U.Today earlier this year, in the fall the de facto owner of Bithumb exchange Lee Jung-hoon was accused of fraud involving approximately 100 billion won ($70 million). The prosecutors sought a sentence of eight years in prison for him.