South Korea Launches Investigation After Mysterious Disappearance of 22 BTC from Police Vault

South Korean law enforcement is at the center of a scandal: 22 Bitcoins, confiscated back in 2021, have vanished without a trace from a Seoul police station. The incident, reported by local media, occurred amidst a large-scale review of digital asset storage protocols in government institutions.

Missing Assets in a Prestigious District

The missing assets, valued at approximately $1.5 million at current market rates, were stored on a “cold” wallet at the Gangnam Police Station. The disappearance was uncovered during a nationwide audit.

• Strange Circumstances: Authorities confirmed that the cryptocurrency was transferred to an external address, yet the physical hardware wallet itself was not stolen.
• Stalled Case: The coins, seized in November 2021, had been voluntarily surrendered to investigators. Now that the material evidence has vanished, the original investigation has effectively been put on hold.

A Series of Incidents and Security “Loopholes”

This case marks the second major failure for Korean security forces in recent times. Previously, in August 2025, the Gwangju Prosecutor’s Office reported the loss of 320 BTC (approximately $21.3 million). At that time, the cause was cited as a password leak resulting from a phishing attack.

This latest disappearance calls into question the authorities’ ability to ensure the security of seized crypto assets. Currently, the Gyeonggi Provincial Police are attempting to identify the individuals who had access to the wallet and those involved in the unauthorized transaction.