The Singapore-based BK Global Consortium would take over up to 70 percent of South Korea’s major cryptocurrency exchange Bithumb.

The takeover payment would complete in September.

The consortium had announced last October that it would take over 50 percent plus one share of BTC Korea Holding’s 75.99 percent ownership in Bithumb.

The consortium is led by renowned plastic surgeon Kim Byung-gun’s BK Group. The takeover amount would rise to 600 billion won from the original 400 billion won.
Kim would become Bithumb’s de facto owner. Before the takeover, he was the fifth largest shareholder.

A BK Global Consortium spokesman confirmed the planned hike of the shareholding. However, he did not want to elaborate on the background behind the increase.

In the meantime, the police and the Korea Internet Security Agency are investigating who illegally withdrew an unspecified amount of Bithumb’s cryptocurrencies on March 31.

A Bithumb spokesman presumed that an insider, not hackers, committed the ‘abnormal’ withdrawal.