The Korea Deposit Insurance Corporation has been investigating 8,405 people linked to insolvent financial institutions since April to identify concealed virtual assets, but 46 targets were alerted before investigators received their data. Exchange A, a domestic won-based exchange, notified the targets on June 1 that KDIC had requested their information and would receive it, one day before providing the data. The disclosure resulted from a legal gap created after virtual asset transaction records were classified as personal credit information, while no deferral or exemption from pre-notification was established for such investigations. KDIC warned that advance notice could allow targets to move assets, while exchanges said withholding notice could expose them to liability. The Financial Services Commission declined to assign responsibility to itself. KDIC had identified about 3.25 billion won ($2.4 million) in virtual assets among 925 of 12,790 people linked to failed institutions by the end of last year, but had recovered only 310 million won ($230,000). The figures were disclosed by the office of Democratic Party of Korea lawmaker Park Min-kyu, a member of the National Assembly's Political Affairs Committee. SBS News previously reported the disclosure involving people including those tied to Busan Savings Bank.