The South Korean cryptocurrency exchange Bithumb announced today that in light of the guilty verdict against former CEO Lee Sang-jun of Bithumb Holdings for negligence related to listing cryptocurrencies, the company "will once again confirm the transparency and fairness of the trading review process and continue to improve it."
Bithumb stated that the two types of virtual assets mentioned in the trial have never been listed on Bithumb and confirmed that they were never submitted to the listing review committee.
A Bithumb representative emphasized: "The company's listing process 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 listing process is maintained and strengthened through a unified application channel on the official website and strict internal review to uphold fairness."
In fact, Bithumb has maintained and expanded its internal reporting channels and reward systems. Additionally, internal controls and auditing systems to prevent misconduct have been significantly strengthened. Specifically, individuals who report misconduct by executives and employees are eligible for rewards of up to 10 billion won.
Relevant individuals also stated: "Taking this incident as an opportunity, we will re-examine operational flaws and continue to operate in a more transparent and responsible manner to adapt to the rapidly growing market environment. We will take steps forward to restore investor 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 Seong-hyun was sentenced to four and a half years in prison for his involvement in this scheme.