South Korea Investigates Disappearance of 22 Bitcoin From Seoul Police Custody

Highlights:

• South Korea is probing the disappearance of 22 Bitcoin from Seoul found missing during a national audit of seized crypto.
• Police found the cold wallet device intact but confirmed an unauthorized external Bitcoin transfer.
• A prior 320 BTC loss triggered broader custody reviews across police and prosecutors’ offices.

South Korean police discovered that 22 BTC were no longer in custody during a recent internal audit. The coins are worth about $1.5 million at current prices. Officers had stored the assets at the Gangnam Police Station since November 2021. Suspects had handed over the Bitcoin during an investigation that later stalled.

🚨DISASTER: SOUTH KOREAN POLICE LOSE $1.5M IN SEIZED BITCOIN

Seoul’s Gangnam Police reportedly lost 22 $BTC (~$1.5M) from confiscated crypto, without the cold wallet ever being physically stolen.

The incident involves the Seoul Gangnam Police Station and funds seized in a 2021… pic.twitter.com/dbawgLpSa9

— BSCN (@BSCNews) February 13, 2026

Auditors found that someone transferred the Bitcoin out of the wallet. Officers still held the USB-style cold wallet inside the station. The hardware showed no signs of damage or theft. This detail has shifted attention to how the staff managed the private keys.

The police said the review comes amid a nationwide inspection of seized digital assets. The supervisors ordered the recent inspection after another crypto loss that occurred last year. During the check, officials realized that the 22 BTC was no longer in the station’s control. The original 2021 case is still suspended without resolution.

Investigators are currently reviewing who had access to the wallet credentials. They are checking internal logs and key storage procedures. The police have not accused any officer of wrongdoing as the inquiry continues.

Broader Review of 22 Bitcoin From Seoul Expands After Earlier 320 BTC Loss Case

The Gangnam incident came to light following a bigger Gwangju incident. Last August, 320 BTC was stolen at the Gwangju District Prosecutors’ Office. The coins were worth over $21 million in recent prices. That loss was later attributed by prosecutors to a phishing-related leaked password.

JUST IN: 🇰🇷 South Korean prosecutors search for "lost" Bitcoin

– Prosecutors say a “significant” amount of BTC was lost while in state custody
– Loss likely occurred mid-2025, possibly via phishing
– Authorities refuse to disclose how much Bitcoin is missing pic.twitter.com/BexowaFnlX

— Bitcoin Archive (@BitcoinArchive) January 22, 2026

In response, the National Police Agency initiated an audit of confiscated cryptocurrency across the country. Audit teams reviewed storage systems in several offices. In the process, they detected the lost 22 BTC in Gangnam. The authorities are looking into how the agencies store and secure private keys. They are also examining whether the current controls are up to standard. Supervisors are interested in knowing how digital transfers were made without detection. Both the police stations and the office of the prosecutors are covered in the review.

Officials have yet to confirm that they have traced the stolen funds to individual wallets. The transaction tracking is being supported by blockchain analysts. The results could inform the way agencies manage confiscated crypto in the future.

South Korea Investigates Digital Asset Custody Oversight

The Seoul Gyeonggi Northern Provincial Police Agency is leading the 22 Bitcoin Gangnam investigation. Officers are analyzing blockchain records to track where the Bitcoin moved. They are mapping wallet addresses linked to the transfer. Police have not reported any recovery of the assets.

Earlier this year, South Korea’s Supreme Court ruled that Bitcoin qualifies as property subject to seizure. The ruling allows investigators to freeze exchange-held Bitcoin in criminal cases. Agencies now have clear authority to confiscate digital assets. That authority also increases responsibility for secure storage.

The government has also confirmed plans to introduce spot Bitcoin ETFs under its 2026 Economic Growth Strategy. Officials outlined the plan in a recent economic roadmap. Regulators will begin detailed reviews within the year. Lawmakers say the move responds to demand for regulated crypto investment products.

At the same time, the National Assembly has questioned Bithumb after a major operational error. On February 6, the exchange mistakenly sent 620,000 Bitcoin to users during a promotion. The amount far exceeded the exchange’s actual holdings. Estimates placed the value of that error between $40 billion and $44 billion.