The post Audit Fails as 22 Seized Bitcoins Vanish from Seoul Police Custody appeared on BitcoinEthereumNews.com.

The Bitcoin was handed over to the Gangnam Police Station in Seoul back in November 2021. 22 BTC had been moved out of the wallet, even though the physical device was still there. Last year, prosecutors in Gwangju realized that 320 Bitcoins had vanished from custody. South Korean authorities have reported that 22 Bitcoins (worth about $1.5 million), seized in a 2021 criminal case and kept in a secure offline wallet, have disappeared. The Bitcoin was handed over to the Gangnam Police Station in Seoul back in November 2021 as evidence and stored on a USB-type cold wallet. A national review of how police and prosecutors keep crypto (started after another big Bitcoin loss) found that these 22 BTC had been moved out of the wallet without authorization, even though the physical device was still there. The Gyeonggi Northern Provincial Police Agency is now investigating how this happened and whether it was an inside job or due to weak procedures. South Korean authorities say no one noticed the Bitcoin was gone for years because the original case tied to it was dormant, and it only came to light during the recent audit. Related: Crypto Crackdown: South Korea Announces Market Manipulation Investigation Not the first Bitcoin loss This case follows a much bigger Bitcoin loss by another government office. Back in August last year, the Gwangju District Prosecutors’ Office realized that 320 Bitcoins (at the time, worth roughly $37 million) had vanished from their custody. Prosecutors said BTC was stolen through a phishing attack, where employees allegedly typed their wallet information into a fake website, giving hackers access to steal the funds. Officials said they haven’t found proof that anyone on the inside was involved, but they’ve started their own investigation into personnel and security measures, following the incident. Taken together,…

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Filed under: News - @ February 14, 2026 10:27 am