Kang Jong-Hyun, the former chairman of South Korean crypto exchange Bithumb, was arrested on Thursday on charges of embezzlement, breach of trust, and fraudulent illegal transactions, according to CoinDesk Korea. According to local reports, South Korean prosecutors sought Jong-arrest Hyun’s last week, along with two other executives, including his younger sister, Kang Ji-Yeon, the CEO of two publicly traded Bithumb affiliates, Inbiogen and Bucket Studio. Following that, the offices of Bithumb were raided on Thursday last week as part of an investigation into price manipulation of a coin listed on the South Korean crypto exchange, according to Yonhap. The coin in question was not identified.