Investigation into Missing Bitcoin in South Korea: Critical Discovery in Gwangju

RunWhenCut · 2026-02-02T14:09:59+00:00

South Korean authorities are investigating the significant loss of confiscated Bitcoin discovered during a routine audit in Gwangju. The missing Bitcoin, valued at approximately 70 billion won, raises concerns about the security of digital asset custody in government institutions.

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2026-02-02 14:09:59

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South Korean authorities have launched a significant investigation after discovering a substantial loss of confiscated Bitcoin. According to reports from BlockBeats, the missing Bitcoin was found during an audit process at the Gwangju District Prosecutor’s Office, raising concerns about digital asset custody procedures in government institutions.

How the Missing Confiscated Bitcoin Was Discovered

The incident came to light when the Gwangju District Prosecutor’s Office was conducting a routine inspection of financial funds stored on USB devices. During this review, officials determined that a considerable amount of Bitcoin, which had been confiscated in previous criminal investigations, was no longer available. Although authorities have not disclosed the exact amount of missing Bitcoin, internal estimates suggest the value could be around 70 billion Korean won, representing a significant figure in terms of assets under state custody.

Possible Access to Fraudulent Sites During the Inspection

A spokesperson from the Gwangju District Prosecutor’s Office explained that the missing Bitcoin might be related to accidental access to a fake website during the inspection process. This type of incident highlights the cybersecurity risks faced by public institutions when managing crypto assets. The exploited vulnerability underscores the importance of robust protocols for accessing digital asset storage systems, especially when dealing with confiscated funds in legal cases.

Current Status of the Investigation and Official Response

When directly asked about the matter, a representative from the Gwangju District Prosecutor’s Office responded cautiously, stating: “We cannot confirm this matter at this time.” Despite this official statement, the investigation into the missing assets is ongoing. The inquiries aim to determine the exact circumstances that led to the loss of the confiscated Bitcoin and to identify security protocols that need to be strengthened to prevent similar incidents in the future.

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