ChainCatcher report, according to The Block, the Gangnam Police Station in Seoul, South Korea, recently discovered during an internal investigation that 22 bitcoins seized since November 2021—currently worth approximately $1.5 million—had been transferred out of a USB cold wallet. Due to the suspension of the related investigation, the asset loss went unnoticed for an extended period. The USB device itself was not stolen. The Gyeonggi Northern Regional Police Agency has launched an internal investigation to determine the exact circumstances of the fund loss and whether any internal personnel were involved. Police declined to provide further details regarding the ongoing investigation. This discovery followed a nationwide special inspection of seized asset management initiated after the recent incident in Gwangju, where 320 seized bitcoins were lost. Local media reported that the evidence custodians at the Gwangju Prosecutors’ Office had their seized bitcoins stolen due to accidentally visiting a phishing website.
South Korean police report loss of 22 Bitcoin from a cold wallet seized in 2021
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Summary
Bitcoin breaking news: South Korean police reported the loss of 22 Bitcoin, worth approximately $1.5 million, from a cold wallet seized in November 2021. The funds were transferred from a USB cold wallet during an internal investigation at the Seoul Gangnam Police Station. The device was not stolen, and the loss remained undetected for an extended period. The Gyeonggi Northern Provincial Police Office is now investigating whether staff were involved. The case came to light after a nationwide review of seized assets was initiated following a similar incident in Gwangju.
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