Bithumb is a cryptocurrency exchange platform. The South Korean-based platform is also known as a leading exchange for ether, the currency of Ethereum (which in itself is immensely popular in the country).
Bithumb is operated by a company called BTC Korea.com Co. Ltd.
In addition to this arrest, South Korea’s National Tax Service had also opened a separate investigation into the possible tax evasion at Bithumb and its affiliates.
The proposed South Korean cryptocurrency currency tracking system’ will help the Ministry of Justice to check transaction details, extract related information between transactions, and check the source of funds before and after the remittance.
