The Gwangju District Attorney’s Office in South Korea has successfully sold 320.8 Bitcoin, transferring approximately $21.5 million to the national treasury. These assets were initially seized from an international illegal gambling operation that ran from 2018 to 2021. In a twist, the Bitcoin was stolen in a phishing attack in August 2025 but was returned by the hacker last month. The sale was conducted over 11 days, concluding on March 6, while the hacker remains unidentified. This incident highlights broader security issues within South Korean agencies. A nationwide audit revealed that the Gangnam Police Station in Seoul lost 22 Bitcoins from a cold wallet, and the National Tax Service accidentally exposed a wallet recovery phrase, leading to the unauthorized transfer of 4 million PRTG tokens. These events underscore the need for improved digital security protocols and training among law enforcement and tax authorities in South Korea.
South Korean Prosecutors Liquidate $21.5M in Bitcoin from Phishing Case
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