South Korea’s authorities launched an investigation into the theft of millions of dollars of Bitcoin during a criminal prosecution.
Gwangju District Prosecutors’ Office officials discovered bitcoin worth around 70 billion won (47,7 million dollars)BTCAccording to the local authorities, crypto currency was not found during an inspection routine of financial assets seized. media reports On Thursday,
The Chosun Daily reported The word “that” is a phrase that means, “that which”. Bitcoin was stolen A prosecutor’s official stated that after an external password leak, the office is now investigating. phishing attack A worker at an agency was found to be responsible for accessing a fraudulent website.
In crypto attacks, phishing is common. Attackers try to get access to wallets by creating fake websites and emails that trick users into giving up their private keys.
Scam Sniffer has reported that cryptocurrency losses have increased in the last month. tied to phishing attacks declined In 2025 the loss will drop to $83,85,000,000, and victims are expected to decrease by 70%.
As the crypto market grows, law enforcement agencies all over the world confiscate and hold large amounts of tokens. However, they do not always disclose the method by which these tokens are being held.
South Korea will investigate Bitcoin theft
According to reports, the prosecutors’ offices declined to reveal the exact amount or date that the Bitcoins were seized citing a current investigation. Cointelegraph reached out to the prosecutor’s office for a comment.
“We are conducting an investigation to track the circumstances and whereabouts of the seized items,” A prosecutor told Yonhap News. “We cannot confirm specific details.”
After the theft, South Korean customs authorities dismantled A major crypto-laundering network was shut down on Monday.
Related: South Korea weighs ending one-bank rule for crypto exchanges: Report
The law enforcement agencies are holding millions of dollars in cryptocurrency
South Korean agencies aren’t only ones with huge crypto holdings. Coinbase, a US-based crypto exchange, announced in June of last year that it had helped to fund theUS Secret Service seize $225 million in crypto allegedly stolen by scammersThe largest cryptocurrency seizure by the agency.
In October of last year, UK authorities began to consider a number of options. whether to keep $6.4 billion in seized Bitcoin Instead of compensating victims, the government should be focusing on preventing fraud. In 2018, scammers in China defrauded 128 000 investors with Bitcoin.
Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
