The Gangnam Police Station in Seoul has confirmed the loss of 22 Bitcoin currently valued at approximately 2.1 billion won about $1.5 million from evidence storage on January 18, 2026. The cryptocurrency was seized during a 2023 crypto fraud investigation but disappeared from the station’s secure digital wallet during a routine audit.
An internal investigation revealed that access logs showed no unauthorized entry, raising suspicions of an inside job or a sophisticated hacking attack that bypassed multi-signature and cold-storage safeguards. The police have launched a special task force, involving the Cyber Investigation Division and National Police Agency forensic experts, to trace the missing funds on the blockchain.
The incident has sparked intense criticism over evidence management practices, especially for high-value digital assets. Opposition lawmakers demanded an independent probe, accusing authorities of negligence in securing criminal proceeds. The ruling Democratic Party called for immediate reforms to evidence-handling protocols for cryptocurrencies.
Seoul Metropolitan Police Agency Commissioner Kim Bong-sik apologized publicly, stating: “This is an unforgivable lapse. We will recover the assets if possible and hold those responsible fully accountable.” Investigators are examining wallet transaction histories, employee access records, and possible phishing or malware infiltration.
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