South Korean police arrest two over alleged theft of seized bitcoin from evidence: report

South Korean police, specifically the Gyeonggi Northern Provincial Police Agency, arrested two suspects on February 25 for allegedly stealing 22 Bitcoin (BTC) from police evidence custody. The assets, valued at about $1.5 million currently, were seized in November 2021 during an investigation into the "A Coin Foundation." Police mishandled the chain of custody by storing the seized digital assets on a cold wallet provided by the foundation itself, the original plaintiff. The arrested individuals are reportedly associated with the foundation and are suspected of using the wallet's mnemonic recovery phrase to steal the coins, violating the Information and Communications Network Act. The original detective on the 2021 case is currently serving an 18-month prison sentence for bribery charges related to the foundation officials attempting to expedite the investigation in their favor.

(Source：The Block)