Vidente Vice President Commits Suicide over Embezzling Bithumb Funds and Manipulating Stock
Mr Puck Mo, the South Korean crypto billionaire, was found dead at his home in Southern Seoul. The South Korean prosecutors alleged that Mo was the main suspect in embezzling Bithumb millions of funds.
Bithumb Scandal
Mo, the vice president of Vidente, a Korean- based crypto-exchange platform, committed suicide by jumping off a building at his home on December 30. Police claim that the suspect was under prosecution scrutiny related to the Bithumb money embezzlement scandal.
The Financial Investigation Division of the Seoul Southern District Prosecutor’s Office launched an investigation into Mo’s embezzlement case. The prosecutors confirmed on October 2021 that he collaborated with the top executive of Bithumb’s sister companies, Inbiogen and Bucket Studio.
The prosecutors claimed that Mo was the head of the accounting department and worked closely with Kang Ji-Yeon, CEO of Bucket Studio, and the brother Kang Jong-hyun, Bithumb chairman.
Bithumb Top Executives Exposed
Vidente, the crypto trading platform, is listed under KOSDAQ in the Korean stock market. The firm is well-known as Bithumb’s largest shareholder, with 34.22% crypto addresses. In early September, Vidente gained numerous social mentions after the CEO was exposed by Korean media- Dispatch for swindling lumps of money for personal gain. Dispatch disclosed that Park Min-young, his girlfriend, was alleged of receiving financial support from the CEO.
Nonetheless, Kang faces two court charges for forging Vidente financial documents and engaging in fraud. A report shared by Dispatch confirms that Kang embezzled over $2.4
million from 2014 to 2015. Notably, the prosecutors investigating Bithumb-affiliated companies identified MO as the prime suspect. His death will prompt the prosecutors to comply with the Korean Criminal Act to terminate the case.
Crypto Community Losses Key Market Players
Besides Mo’s suicidal death, the crypto community has experienced the demise of key market leaders under uncommon events. On November 1, the co-founder of MakerDAO and Bitshares, Nikolai Mushegian drowned at a Condado beach in San Juan. Mushegian died at 29 years after making valuable inputs in the crypto space.
Additionally, the crypto community mourned the death of Vyacheslav Taran, the founder of the Libertex crypto exchange platform, who died in a helicopter crash. Taran’s death coincided with Tiantian Kullander, the co-founder of the Amber Group, who died while asleep.
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