South Korean police, holding billions in seized crypto, draft first darkcoin rules

South Korean police have drafted their first-ever guidelines for managing seized darkcoins as part of a broader overhaul of their virtual asset management system, The Asia Business Daily reported. The move follows a series of incidents where government and investigative agencies lost seized crypto assets. According to the report, South Korea's National Police Agency recently completed a draft of new instructions that specify compliance measures for each stage of the virtual asset seizure process. This includes a new software wallet (hot wallet) management plan specifically for handling darkcoins. Meanwhile, the total value of virtual assets seized by the police over the past five years is estimated to be around 54.5 billion won ($39.5 million), based on prices early this morning. This includes approximately 50.7 billion won ($36.7 million) in Bitcoin (BTC) and 1.8 billion won ($1.3 million) in Ethereum (ETH).