South Korea Police Draft Crypto Seizure Rules After Custody Lapses
South Korea’s National Police Agency is drafting new guidelines for handling seized cryptocurrencies as authorities seek stronger custody procedures.
South Korea’s National Police Agency is drafting new guidelines for handling seized cryptocurrencies as authorities seek stronger custody procedures.
South Korean authorities arrested two individuals after 22 seized Bitcoin, now worth about $1.4 million, were lost due to storage in a third-party wallet. The case highlights custody and governance risks in digital asset handling.
US authorities seized over $61 million in USDT linked to a large-scale pig butchering fraud scheme, highlighting increased enforcement against crypto-enabled scams.
South Korean prosecutors recovered $21.4 million in stolen bitcoin after a hacker returned 320.8 BTC, following measures that blocked transactions from the stolen funds.
Authorities in Seoul confirmed that 22 BTC seized in 2021 was drained from a police-held cold wallet, prompting an internal investigation into evidence custody practices.
A US federal court sentenced Daren Li to 20 years in prison for orchestrating a $73 million crypto pig butchering scheme targeting American investors.
German and Swiss authorities shut down Cryptomixer, a long-running Bitcoin mixing service tied to ransomware and darknet activity.