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Bithumb shareholder dies amid embezzlement allegations

Bithumb

TL;DR Breakdown

  • Bithumb shareholder declared dead
  • Park Mo was a prominent figure in the company
  • The Crypto sector witnessed the deaths of prominent personalities

One of the Bithumb crypto exchange’s largest shareholders reportedly died on December 30. According to the reports, Mr. Park Mo was said to have been found dead in front of his house very early in the morning. Until his death, he was the president of a company that held one of the largest shares in the South Korean crypto exchange. Before his death, the shareholder was in the middle of some embezzlement allegations rocking companies with close ties to Bithumb.

Park Mo was a prominent Bithumb shareholder

South Korean regulators were understood to have named Park Mo as a standalone suspect in the case that saw several funds leave the confines of companies with ties to the exchange. The investigation, which began in late 2021, saw regulators seize the operating licenses of companies with affiliation to Bithumb. Asides from that, there were also some allegations of manipulation of stock prices in the companies mentioned.

Companies like Bucket Studio and Vident were among the various companies listed in the report. Vident is currently the biggest shareholder of the exchange, holding a controlling share of about 34% compared to the others. The report claimed that the CEO might have ended it all due to the nature of his death. According to a tweet, he reportedly jumped off a building.

Crypto sector witnessed deaths of prominent personalities

Several tweets and reports have also mentioned the lawsuit and accusations as triggers that might have caused him to end his life. Meanwhile, the crypto community continues to witness deaths among notable sector fellows. Some months ago, reports said that MakerDAO founder Nikolai Mushegian was found dead. According to records, he was one of the creators of the DAI stablecoin and was aged 29 when he died.

Some weeks after, there was another report of the death of Amber Group boss Tiantian Kullander who was about 30 years old when he died in his sleep. The co-founder, referred to as TT, was said to have left behind his wife and a son. Another major one was the CEO of Forex Club, who died in a helicopter crash in France after leaving Switzerland. He was 53 years at the point of death and was also the president of Libertex.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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