Close Menu
    South Korean Police Lose .5M in Seized Bitcoin
    Bitcoin

    South Korean Police Lose $1.5M in Seized Bitcoin

    By Updated:No Comments3 Mins Read


    • Seoul Gangnam Police misplaced 22 BTC value $1.45M throughout a 2026 digital asset custody audit.
    • The 22 seized BTC had been drained remotely whereas the USB chilly pockets remained in police custody.
    • South Korea reported two custody breaches in 2026, together with a separate 320 BTC loss in Gwangju.

    South Korean authorities have confirmed the lack of 22 Bitcoin valued at about $1.45 million from seized property held by the Seoul Gangnam Police Station. The funds had been saved as proof in a suspended 2021 investigation. The loss was found throughout a nationwide audit of digital asset custody practices performed in early 2026.

    Audit Reveals Lacking Bitcoin From Police Custody

    The lacking 22 BTC had been recognized throughout a broad inspection of digital asset administration throughout legislation enforcement businesses. Officers mentioned the invention was made on February 13, 2026. The property had been value round 2.1 billion received on the time of affirmation.

    The Bitcoin had been saved on a USB chilly pockets saved in police custody. Authorities acknowledged that the bodily machine had not been stolen or tampered with externally. Nonetheless, the digital property linked to the pockets had been transferred to an exterior handle.

    The associated legal investigation from 2021 had been suspended. In consequence, the pockets remained unmonitored for greater than 4 years. The funds had been initially surrendered voluntarily to investigators in November 2021.

    Inner Probe Examines Reason for Breach

    The Gyeonggi Bukbu Provincial Police Company is main an inner investigation into the incident. Officers are analyzing whether or not the loss resulted from exterior hacking or inner negligence. No ultimate conclusion has been introduced.

    Authorities confirmed that the Bitcoin was moved remotely regardless of the chilly pockets remaining in custody. Investigators are reviewing entry information and digital logs. They’re additionally assessing whether or not correct safety protocols had been adopted in the course of the storage interval.

    Regulation enforcement businesses haven’t launched particulars about potential suspects. The case stays underneath energetic assessment. Officers acknowledged that additional updates will likely be offered as soon as the investigation progresses.

    Broader Digital Asset Custody Issues in 2026

    This case marks the second reported digital asset custody failure in South Korea in early 2026. In late January, the Gwangju District Prosecutors’ Workplace reported the lack of 320 BTC. The estimated worth ranged between $29 million and $48 million on the time.

    In accordance with reviews, investigators within the Gwangju case accessed a phishing web site throughout a workers transition. Outdated credentials that had not been modified for over two years had been reportedly compromised. The breach led to unauthorized entry to digital wallets.

    Following these incidents, the Monetary Supervisory Service launched its 2026 oversight plan. The plan contains stricter IT threat administration guidelines and punitive fines for system failures.

    It additionally requires the usage of AI monitoring instruments to forestall digital asset theft and market manipulation. Authorities mentioned the brand new measures intention to strengthen digital asset custody requirements throughout establishments.





    Supply hyperlink

    Share.

    Related Posts