Bithumb’s Largest Shareholder Executive found dead following Allegations of Embezzlement

Mr. Park Mo of Bithumb was discovered dead after an investigation into embezzlement and stock price manipulation was launched against him.

Mr. Park Mo, the vice president of Vidente, the largest shareholder of South Korean cryptocurrency exchange Bithumb, was found dead in front of his home at 4 a.m. on December 30.

Prior to his death, Mr. Mo had been named as a primary suspect in a South Korean prosecutors’ investigation into his alleged involvement in embezzling funds from Bithumb-related companies and manipulating stock prices.

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

Vident, a KOSDAQ-listed company, is Bithumb’s largest shareholder, owning 34.22% of the cryptocurrency exchange.

Mr. Mo is thought to have committed suicide as a result of the nature of the criminal charges leveled against him.

The number of deaths in the cryptocurrency community has been notable in the last three months.

Nikolai Mushegian, the co-founder of the cryptocurrency lending platform MakerDAO and the decentralized Dai stablecoin, was found dead in Puerto Rico on November 1st, according to Cointelegraph.

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

Vyacheslav Taran, president of Libertex Group and founder of Forex Club, died in a helicopter crash in France on Nov. 25 while en route from Lausanne, Switzerland to Monaco. He was 53 years old at the time.