It is suspected that Mr. Mo may have taken his own life due to the nature of the criminal allegations that had been brought against him.
Prior to his death, Mr. Mo had been named as a primary suspect in an investigation launched by South Korean prosecutors for his alleged involvement in the embezzling funds at Bithumb-related companies, as well as, manipulating stock prices.
In October 2021, the Financial Investigation Division of the Seoul Southern District Prosecutor's Office launched an investigation into allegations made against Mr. Park Mo, which led to the seizing of Bithumb-affiliated companies such as Vident, Inbiogen, and Bucket Studio. Vident, a KOSDAQ-listed company, is known to be Bithumb's largest shareholder 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 off a building while being investigated by South Korean prosecutors, suspected of corruption and price manipulation.
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