Seoul police discover years-old theft of 22 BTC worth $1.5M
February 25, 2026, 1:27 PM
Seoul's Gangnam Police Station only recently discovered that 22 BTC, worth approximately 2 billion won ($1.5 million), seized during an investigation in 2021 was stolen in 2022, the Dong-A Ilbo reported exclusively.
The station reportedly failed to follow official protocols for storing seized cryptocurrency. According to the report, the assets, which were voluntarily submitted during a criminal case, were kept in an external cold wallet instead of being secured in a designated cold wallet inside a separate safe, a procedure mandated by the National Police Agency in 2021 and further detailed in March 2022. The funds were lost in May 2022.
The Gyeonggi Bukbu Provincial Police Agency is now investigating the incident and has arrested two suspects for embezzlement.
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