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South Korean police arrest two suspects for allegedly stealing 22 bitcoin pieces of evidence

South Korean police arrest two suspects for allegedly stealing 22 bitcoin pieces of evidence

PANewsPANews2026/02/25 12:41
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PANews, February 25th – According to The Block, the Gyeonggi Northern Provincial Police Agency in South Korea arrested two suspects on February 25, 2026, for allegedly stealing 22 bitcoins from the evidence storage of the Gangnam Police Station. These bitcoins were originally seized in November 2021 during the investigation of the “A Coin Foundation” hacking case. According to the investigation, the police did not store the assets in an officially regulated hardware wallet at the time, but instead used a cold wallet provided by the foundation, which allowed the suspects to use the mnemonic phrase to illegally transfer the assets via the information and communication network. Currently, the bitcoins, valued at approximately $1.5 million, have not yet been recovered. In addition, the former police officer in charge of the case was sentenced to 18 months in prison in August 2024 for accepting bribes from the foundation.

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