South Korean officials are said to have raided the offices of cryptocurrency exchange Bithumb for a second time in a week.
The Seoul Newspaper reported Tuesday that the Seoul Metropolitan Police Agency's Intelligent Crime Investigation Unit had entered Bithumb's Seoul headquarters and seized evidence relating to a fraud investigation.
The raid was again linked to a $25 million token sale hosted on Bithumb and a proposed acquisition by a Singapore platform, BTHMB, that never materialized.
Some investors have reportedly lost millions and Bithumb's chairman, Lee Jung-hoon, has been accused of fraud and illicitly sending funds overseas.
Bithumb, one of the largest exchanges in South Korea by trading volume, was raided for the first time last Wednesday.
Authorities this time targeted the offices relating to Bithumb Holdings, the parent of Bithumb Korea, which operates the Bithumb exchange.
“Everything is going fine,” Bithumb told CoinDesk when contacted for comment.