According to South Korean TV Chosun News, prosecutors raided local crypto exchanges Upbit, Bithumb, and the crypto wallet unit of South Korean internet giant Kakao Corp. as part of their investigation into local lawmaker Kim Nam-kuk’s charges of campaign finance violations, tax portals, and concealment of criminal proceeds. Prosecutors searched Upbit, Bithumb, and Kakao Clip for Kim’s cryptocurrency account details, cryptocurrency assets, and transaction records, according to TV Chosun on Tuesday. The two largest cryptocurrency exchanges in the country are Upbit and Bithumb. According to TV Chosun, South Korea’s Financial Intelligence Unit, the country’s watchdog of the finance and crypto industries, identified unusual behaviour in Kim’s crypto transactions and contacted local authorities towards the end of last year.