South Korean police arrest two suspects involved in stealing 22 confiscated bitcoins

SmartContractAuditor · 2026-02-25T12:55:13+00:00

Korean police arrested two suspects in 2026 for stealing 22 Bitcoins from the police station evidence vault. These Bitcoins were seized due to the "A Coin Foundation" hacking case but were illegally transferred due to improper storage and have not yet been recovered, with an estimated value of approximately $1.5 million. The former officer in charge of the case was sentenced for bribery.

SmartContractAuditor

2026-02-25 12:55:13

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Odaily Planet Daily reports that on February 25, 2026, the Gyeonggi Northern Province Police Department in South Korea arrested two suspects for allegedly stealing 22 Bitcoins from the evidence vault of the Gangnam Police Station. These Bitcoins were initially seized in November 2021 during the investigation of the “A Coin Foundation” hacking case. According to the investigation, because the police did not store the assets in an officially regulated hardware wallet at the time, but instead used a cold wallet provided by the foundation, the suspects were able to illegally transfer the assets via mnemonic phrases over the communication network. Currently, this approximately $1.5 million worth of Bitcoin has not been recovered. Additionally, a former officer responsible for the case was sentenced to 18 months in prison in August 2024 for accepting bribes from the foundation. (The Block)

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