South Korea's NTS considers external custody for seized crypto

South Korea's National Tax Service (NTS) is considering a plan to manage cold wallets containing seized virtual assets by entrusting them to an external professional custodian, The Herald Business reported. The move is being reviewed as the country's National Assembly examines the agency's follow-up measures after a recent theft. On Feb. 26, the NTS inadvertently exposed a mnemonic code in a press release publicizing its seizure of assets from high-value delinquent taxpayers, which led to the theft of around 6 billion won ($4.6 million) worth of cryptocurrency. The National Police Agency's Cyber Terror Investigation Unit is currently tracking the stolen assets.