Former Bithumb CEO Lee Sang-joon granted bail after six months of detention

ChainCatcher news, according to Digital Asset, former CEO of the South Korean cryptocurrency exchange Bithumb, Lee Sang-joon, has been released on bail after being detained for six months due to his conviction. Lee Sang-joon was sentenced to two years in prison in the first trial for allegedly receiving hundreds of millions of won in bribes to list two cryptocurrencies on Bithumb.

He was released after being detained since December 2024. The bail conditions include restrictions on changing residence, prohibition from leaving the country without court approval, a deposit of 50 million won (36,500 USD), and a ban on contacting involved parties.