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South Korea’s Gangnam Police Probe Disappearance of 22 Seized Bitcoins

A nationwide audit uncovered the loss of the 2021 seizure from police custody.

Overview

  • The station confirmed about ₩2.1 billion (roughly $1.6 million) in Bitcoin is missing from evidence holdings.
  • The 22 BTC were voluntarily surrendered during a 2021 investigation and kept in a USB cold wallet.
  • Police still hold the physical device, yet the coins were transferred out without authorization.
  • The Gyeonggi Northern Provincial Police Agency opened an internal investigation reviewing access logs and key-management practices.
  • Investigators are tracing blockchain transactions, and authorities have reported no recovery or staff accusations to date.