South Korea Investigating Confiscated Bitcoin Theft: Report

Authorities in South Korea have launched an investigation after tens of millions of {dollars} price of Bitcoin seized in a prison case was reportedly stolen.

Officers with the Gwangju District Prosecutors’ Workplace found that round 70 billion gained ($47.7 million) price of Bitcoin (BTC) crypto was lacking throughout a routine inspection of seized monetary belongings, in line with native media experiences on Thursday.

The Chosun Every day reported that the Bitcoin was stolen after a password was leaked externally, with a prosecutor’s workplace official saying a phishing assault was guilty after an company employee accessed a rip-off web site.

Phishing is a standard assault in crypto, the place attackers look to achieve entry to a pockets by spoofing professional web sites or emails to trick crypto customers into sharing their non-public keys.

Rip-off Sniffer reported earlier this month that crypto losses tied to phishing assaults declined by over 80% in 2025, with losses falling to $83.85 million, whereas the variety of victims additionally declined by practically 70% to 106,000.

As crypto adoption grows, numerous legislation enforcement businesses all over the world are confiscating and holding massive quantities of tokens; nevertheless, the custody methodology used is usually not disclosed.

South Korea to research Bitcoin theft

The prosecutors’ workplace reportedly declined to reveal the quantity misplaced or when the Bitcoin was seized, citing an ongoing investigation. Cointelegraph contacted the prosecutors’ workplace for remark.

“We’re conducting an investigation to trace the circumstances and whereabouts of the seized objects,” a prosecution official informed Yonhap Information. “We can’t affirm particular particulars.”