In brief
- Police in South Korea’s capital lost access to 22 Bitcoin, or around $1.4 million worth at today’s prices.
- Officers from the Gangnam Police Station were supposed to take custody of seized BTC in their own cold wallets, but instead allowed a third-party to manage them.
- Years later, the Bitcoin was identified as stolen, and two suspects were arrested for their alleged role in the incident.
Police officers from the Gangnam Police Station in Seoul, South Korea didn’t adhere to crypto custody guidelines, leading to the loss of more than $1.4 million in Bitcoin at today’s prices, per a new report from local media outlet Dong-A Ilbo. Now two suspects have been arrested in relation to the swiped Bitcoin.
After confiscating 22…
