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A total of 22 bitcoins, valued at 2.14 billion won ($1.5 million), have gone missing from the police station in the Gangnam district of Seoul, the capital of South Korea.
These crypto assets were seized as evidence during a criminal investigation that began in November 2021. They were stored on a hardware wallet at the Gangnam police station and were intended to be part of the evidence collection.
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According to the investigation, the missing bitcoins were transferred out of the country, but their disappearance went unnoticed for an extended period due to the suspension of the case investigation. Meanwhile, the hardware wallet itself remained in place.
The Gyeonggi Provincial Police Agency is looking into the circumstances surrounding the unauthorized transfer of funds. Law enforcement officials suggest that the movement of assets may have occurred due to breaches in evidence storage procedures or possible involvement of police personnel.
Previously, the Gwangju city prosecutor’s office in South Korea initiated an investigation into the theft of confiscated bitcoins by local authorities, amounting to a total of 70 billion won (approximately $47.7 million).
