The Seoul Southern District Court has issued an arrest warrant for Kang Jong-hyun, the CEO of Vidente, and the company, on charges of embezzlement and breach of the Capital Market Act. Vidente is the single largest shareholder of Bithumb Korea, a cryptocurrency exchange founded in 2014, boasting 8 million registered users. Kang is the brother of Kang Ji-yeon, the former representative of Bithumb’s subsidiary Vidente and the current representative of Inbiozen and Bucket Studio. The prosecution has requested that the arrest warrant be issued with charges of Kang Jong-hyun having embezzled approximately 60 billion won in company funds on multiple occasions in conjunction with his partner CEO Cho, while still retaining ownership of the Vidente subsidiary IT.