South Korean police lose bitcoin seized and stored in cold wallets since 2021
PANews, February 13 – According to The Block, the Seoul Gangnam Police Department in South Korea discovered during a recent internal investigation that 22 bitcoin (currently valued at approximately $1.5 million), which had been seized since November 2021, had been transferred out from a USB cold wallet. Due to the suspension of the related investigation, the loss of these assets went unnoticed for a long period. The USB device involved was not itself stolen. The Northern Gyeonggi Provincial Police Department has launched an internal investigation to determine the specific circumstances of the fund outflow and whether any internal personnel were involved. The police declined to comment further on the ongoing investigation.
This discovery originated from a nationwide special inspection of seized asset management, which was initiated following the recent incident involving the loss of 320 seized bitcoin at the Gwangju District Prosecutors' Office. Local media reported that evidence management personnel at the Gwangju Prosecutors' Office lost the seized bitcoin after mistakenly logging into a phishing website.
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