South Korean police arrest two suspects involved in the theft of 22 Bitcoin evidence

MarsBitNews · 2026-02-25T13:15:37+00:00

The police in Gyeonggi Province, South Korea, arrested two suspects in 2026 for stealing 22 Bitcoins from the evidence vault of the Gangnam Police Station. The Bitcoins were seized due to the "A Coin Foundation" hacking case, but because the police did not use secure hardware wallets, the assets were illegally transferred. Currently, the Bitcoins have not been recovered, and the former officer in charge of the case was sentenced for bribery.

MarsBitNews

2026-02-25 13:15:37

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According to Mars Finance, The Block reports that in 2026, the Gyeonggi Northern Police Department in South Korea arrested two suspects accused of stealing 22 Bitcoin from the evidence vault at Gangnam Police Station. These Bitcoins were initially seized in 2021 during an investigation into the “A Coin Foundation” hacking case. The investigation revealed that the police at the time did not store the assets in officially regulated hardware wallets but instead used cold wallets provided by the foundation, allowing the suspects to illegally transfer the assets via mnemonic phrases over communication networks. Currently, the approximately $1.5 million worth of Bitcoin has not been recovered. Additionally, the former officer responsible for the case in that year was sentenced to 18 months in prison in 2024 for accepting bribes from the foundation.

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