
South Korean authorities investigate the loss of 22 Bitcoin from Gangnam Police due to improper storage, following violations of crypto custody protocols.
South Korean police have lost 22 Bitcoin, valued at approximately $1.4 million, due to failure to adhere to crypto custody guidelines, with assets not stored in cold wallets. Investigations found third-party control over the funds. Two suspects have been arrested, and a separate investigation into a $21 million Bitcoin loss is ongoing.