ChainCatcher reports that, according to Cointelegraph, South Korean police have arrested two suspects in a case involving the theft of 22 Bitcoin (worth approximately $1.4 million). These Bitcoins were originally seized by the police in November 2021 from a hacking attack on an exchange, but the police violated regulations by storing them in a cold wallet controlled by a third party, and the police themselves did not hold the wallet’s seed phrase.
It is reported that the seed phrase for the wallet was later handed over to a person named “Mr. Jeong” as part of a loan agreement. The case was not discovered until four years later, during an audit of another incident involving the loss of 320 Bitcoin at the Gwangju District Prosecutors’ Office nationwide.
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