A Thai firm claims that Bithumb’s Hong Kong subsidiaries caused it serious damage by unilaterally halting its business in Thailand.
Bithumb’s Hong Kong affiliates are reportedly facing a civil suit for breach of contract.According to a Tuesday report by the Korea Times, the suit is being initiated by a former Bithumb partner in Thailand, which is accusing the South Korean-headquartered exchange of unilaterally halting its business in Thailand and causing major losses. The Thai firm — which remains unnamed — is reportedly preparing to file a lawsuit against Bithumb’s Hong Kong subsidiaries, including Bithumb Global Holdings and GBEX, as well as top company executives in July.According to the plaintiff firm, Bithumb’s Hong Kong-based entities were allegedly involved in the company’s previous plans to open a Bithumb exchange in Thailand. Some of the executives of these subsidiaries also hold high-level positions
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