Odaily Planet Daily News - South Korean cryptocurrency exchange Bithumb announced today that it will "reconfirm the transparency and fairness of the trading review process and continue to improve it" in response to the guilty verdict of former CEO Lee Sang-jun of Bithumb Holdings for breach of duty related to listing coins. Bithumb stated that the two types of virtual assets mentioned in the court proceedings were never listed on Bithumb and confirmed that they were never submitted to the coin listing review committee. A Bithumb representative emphasized, "The company's coin listing procedure is conducted by an independent listing review committee involving external experts, which is not a structure that specific personnel, including relevant executives and employees, can influence." They added, "The coin listing process has maintained and strengthened fairness through a unified application channel on the official website and strict internal reviews." In fact, Bithumb has maintained and expanded its internal reporting channels and reward systems. Additionally, the internal control and audit systems to prevent misconduct have been significantly strengthened. Specifically, those who report misconduct by executives and employees can receive a reward of up to 10 billion won. A relevant person also stated, "Taking this incident as an opportunity, we will reassess operational flaws and continue to operate in a more transparent and responsible manner to adapt to the rapidly growing market environment. We will step forward progressively to restore investors' confidence." Previously, the Southern District Court of Seoul sentenced former CEO Lee Sang-jun of Bithumb Holdings to two years in prison for instructing employees to list specific altcoins in exchange for bribes. Additionally, former golfer Ahn Sung-hyun was sentenced to four and a half years in prison for his involvement in this scheme.