A large amount of bitcoin held in custody at the Seoul Gangnam Police Station was allegedly siphoned off by executives of the cryptocurrency firm that had originally reported a hacking incident, authorities said. One of the suspects is also standing trial for allegedly aiding a violation of the Political Funds Act in a separate case involving Jeon Seong-bae, widely known as “Geonjin Beopsa,” over suspected nomination bribery.

The cybercrime unit of the Northern Gyeonggi Provincial Police Agency said Thursday that it had sought arrest warrants for a man in his 40s who serves as the company’s CEO and another man in his 40s surnamed Lee, identified as its de facto operator. They are accused of hacking under the Information and…