BitcoinWorld

South Korea’s NTS Considers External Crypto Custody After Devastating $4.6 Million Theft

SEOUL, South Korea – March 2025 – In a significant policy reversal, South Korea’s National Tax Service (NTS) is actively considering external professional custody for seized cryptocurrency assets. This crucial development follows a devastating security breach that exposed fundamental vulnerabilities in the agency’s digital asset management protocols. The proposed shift toward specialized third-party custodians represents a major evolution in how government entities handle confiscated virtual currencies globally.

South Korea’s NTS Crypto Custody Crisis

The National Tax Service’s current predicament stems directly from a…