Seoul Police Confirm Loss of $1.6 Million in Seized Bitcoin
The Gyeonggi Northern Police Agency is investigating the theft of 22 BTC seized in 2021, which were drained from a cold wallet despite the physical device remaining in custody.
BTC
Summary
Seoul Gangnam Police discovered that 22 Bitcoins, seized during a 2021 investigation, were illicitly transferred from a cold wallet even though the physical USB device remained in custody. The theft, valued at approximately ₩2.1 billion ($1.6 million), was identified during a nationwide audit triggered by a similar incident in Gwangju. The Gyeonggi Northern Police Agency is now investigating the security breach.
Terms & Concepts
- Cold Wallet: A cryptocurrency storage device kept offline to protect digital assets from unauthorized online access and hacking attempts.