Bithumb, the major cryptocurrency exchange in South Korea, has planned to close some of its offices due to the ongoing COVID-19 pandemic.
It has been reported that Bithumb will be temporarily suspending its offline support center in Gangnam to prevent the spread of COVID-19.
However, the firm noted that the number of domestic confirmed cases of the coronavirus disease has increased, causing local authorities to adopt more preventive measures.
The report said that Bithumb’s support center in Seoul is about to close today until further notice. In the meantime, Bithumb will operate an online customer support center.
Bithumb has been actively posting on its blog in recent months, but none of the announcements have touched upon a reported investigation targeting its executives.
Crypto offices continue to fall to COVID-19. Now, @BithumbOfficial is closing a Gangnam-based office due to the pandemic. Not even crypto is immune to COVID-19. https://t.co/NXKuLRzNdQ — Cointelegraph (@Cointelegraph) November 24, 2020
As per the report, South Korean police conducted at least two raids on Bithumb’s offices in connection to the alleged fraud, while the company’s chairman Lee Jung-hoon was summoned for interrogation.
The pandemic has had a major impact on the blockchain and crypto industry so far, apparently being one of the key reasons behind Bitcoin’s (BTC) parabolic rise in 2020.
Thus, according to some industry executives, COVID-19 did not negatively impact the blockchain industry but drove increased demand for blockchain innovation and adoption.