South Korea-based cryptocurrency exchange Bithumb is under a “special tax investigation” by the nation’s National Tax Service (NTS), according to local reports.

On Jan. 10, tax agents supposedly raided the exchange’s headquarters in the nation’s capital city, Seoul, as a part of a compliance investigation. Authorities are exploring the possibility of tax evasion by examining the domestic and global transactions of Bithumb Korea, Bithumb Holdings and its affiliates.The representatives are likewise checking out possible tax evasion related to the ownership of Bithumb.The investigation was performed by the 4th Bureau of Investigation of the Seoul Regional Tax Service, which specifically investigates” special tax examinations, “instead of standard ones. Cast your vote now!Bithumb was previously under a special tax investigation in 2018 by the NTS, through which it won roughly$64 million in income tax.This development follows former Bitchumb chair Lee Jung-Hoon was acquitted on Jan. 3 of$ 70 million in fraud charges. Related: Busan city drops international crypto exchanges from its digital exchange strategies On Dec. 30, simply prior to the acquittal, Park Mo– an executive at the largest shareholder of Bithumb– was discovered dead. He was under investigation by local authorities for embezzlement and stock rate control. Theexecutive’s death was the latest in a variety of crypto billionaires who died within a month

of each other, including MakerDAO co-founder Nikolai Mushegian and Amber Group co-founder Tiantian Kullander, to name a few. Some in the community have actually pointed to the truth that they happened around the very same time a the fall of FTX

. Regulators worldwide have been keepinga close watch on the crypto market in light of the turmoil, which has considering that plagued the space.