Two arrested for stealing $1.8M in Bitcoin from police custody

The Gyeonggi Bukbu Provincial Police Agency has arrested and is investigating two suspects for stealing Bitcoin that had been seized and was being held by Seoul's Gangnam Police Station, TV Chosun reported. The pair is accused of siphoning off 22 BTC, valued at approximately 2.1 billion won ($1.8 million) at the time, around November 2021. The Bitcoin had been voluntarily submitted to the police during a criminal investigation. An investigation revealed that the Gangnam Police Station was only storing the physical USB-type hardware wallet and was unaware that the assets could be withdrawn remotely by anyone who knew the wallet's recovery phrase.