September 2, 2020 Police seize South Korean exchange Bithumb.

According to a South Korean newspaper, Seoul Shinmun, the Seoul Metropolitan Police Agency has seized the offices and operations of Seoul-based exchange Bithumb. Bithumb is accused of selling $25M worth of BXA tokens in a presale and subsequently failing to list the token on its exchange, causing damages to investors. The exchange’s chairman is also under investigation for separate violations. The move comes shortly after another South Korean exchange, Coinbit, was seized for allegedly falsifying 99% of its trading volumes.