The Major Crimes Prosecution Division 3 of the Seoul Southern District Public Prosecutors’ Office led the morning raid, targeting documents related to four current and former executives. This operation builds on evidence collected during an initial search in March 2025, which centered on claims that a former CEO used a 3 billion won company lease deposit to facilitate a personal apartment purchase. Investigators are operating under transitional legal provisions that allow them to continue existing probes despite recent systemic changes to the nation’s criminal justice structure.
Beyond these specific allegations of fund misuse, the exchange faces intense parliamentary scrutiny regarding its internal governance. Lawmaker Lee Kang-il recently highlighted the housing allowance scandal as symptomatic of broader failures in executive accountability and listing practices. The company’s regulatory history remains contentious; in March 2026, the Financial Intelligence Unit imposed a 36.8 billion won fine for over 6 million anti-money laundering violations. Although the Seoul Administrative Court later suspended that penalty, the exchange remains caught in a cycle of investigations, including a separate June probe into alleged nepotistic hiring practices.
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