Biggest Bithumbs shareholder executive found dead following embezzlement allegations

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Mr. Park Mo, the Vice Chairman of Vidente, the largest shareholder in South Korean cryptocurrency exchange Bithumb, was reportedly found dead outside his home at 4 a.m. on the morning of December 30.

Prior to his death, Mr. Mo had been named as the prime suspect in an investigation launched by South Korean prosecutors for his alleged involvement in the embezzlement of funds from companies linked to Bithumb, as well as the manipulation of share prices.

In October 2021, the Financial Investigation Division of the Seoul Southern District Prosecutor’s Office launched an investigation into the allegations against Mr. Park Mo, which led to the seizure of Bithumb-affiliated companies such as Vident, Inbiogen and Bucket. Studio.

Vident, a KOSDAQ-listed company, is known to be the largest shareholder of Bithumb and holds a 34.22% stake in the cryptocurrency exchange.

According to Money Today, the vice president of Vidente, the largest shareholder of South Korean cryptocurrency exchange Bithumb, committed suicide by jumping from a building while under investigation. South Korean prosecutors, suspected of bribery and price manipulation.

Wu Blockchain (@WuBlockchain) December 30, 2022

It is suspected that Mr. Mo committed suicide due to the nature of the criminal allegations against him.

Related: Tiantian Kullander, Co-Founder of Amber Groups, Dies at 30

Over the past three months, the death toll within the cryptocurrency community has been notable.

On November 1, Cointelegraph reported that Nikolai Mushegian, the co-founder of cryptocurrency lending platform MakerDAO and decentralized stablecoin Dai (DAI), was found dead in Puerto Rico at the age of 29.

On November 23, Amber Groups co-founder Tiantian Kullander, also known as TT, died unexpectedly in his sleep at the age of 30, leaving behind a wife and son.

Russian billionaire Vyacheslav Taran, chairman of the Libertex Group and founder of the Forex Club, also died Nov. 25 in a helicopter crash in France while traveling from Lausanne, Switzerland, to Monaco. He was 53 years old.

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