South Korea Probes $47M Bitcoin Theft From Prosecutors’ Custody

[madmax]

Authorities in South Korea have launched an investigation after discovering that roughly 70 billion won ($47.7 million) in seized Bitcoin had gone missing from government custody. The loss was uncovered during a routine inspection by the Gwangju District Prosecutors’ Office, according to local media reports.

Initial findings suggest the Bitcoin was stolen after a password leak, with officials pointing to a phishing attack as the likely cause. Reports claim an agency worker accessed a fraudulent website, allowing attackers to gain access to the wallet holding the seized funds — a stark reminder that even law enforcement isn’t immune to common crypto attack vectors.

[cryptobro]

as governments seize more crypto, missing funds like this highlight the need for transparent and secure standards for managing digital assets.