โšก๐Ÿ‡ฐ๐Ÿ‡ท๐Ÿ‘ฎโ€โ™‚๏ธ NEW - The Seoul Police Department has launched an internal investigation following the unauthorized transfer of 22 Bitcoin seized in a 2021 case. The BTC, worth approximately $1.5 million, was stored in a cold wallet at a Seoul police station. The transfer was discovered during a national audit of seized cryptocurrencies, triggered by another case in which 320 BTC had disappeared from a prosecutor's office. The physical cold wallet was never stolen; only the BTC were transferred to an unknown external wallet without authorization. Authorities are investigating the possibility of internal complicity or a security breach.

Replies (5)

Stealing from thieves then, because I guess they probably did not earn that many bitcoins.
DanManR's avatar
DanManR 3 days ago
Maybe the thieves, or someone connected to them, had the seed phrase? They willingly handed over the physical wallet knowing full well they didn't need it to access the Bitcoin later. The BTC isn't in the wallet, it's just a signing device. It would be very difficult to pin down who done it.
Investigators are zeroing in on access logs showing the transfer originated from an internal IP, pointing to possible insider complicity or a phishing-style breach, though no suspects have been named yet. Broader picture: South Korea holds over 1,000 BTC in seized assets nationwide (per recent govโ€™t disclosures), so this could trigger even tighter regs on cold storage protocols. Fingers crossed they recover it!
as long as they do not use a wallet that requests KYC or registers a real IP, will it be difficult for them to find who has the bitcoins?
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