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Nellius Irene

South Korea to overhaul crypto custody after police lose 22 BTC and tax haul mishandled

On March 2, 2026, South Korea's Finance Minister and Deputy Prime Minister Koo Yoon-cheol outlined plans to reform how government bodies store seized cryptocurrencies. The move follows reports that Gangnam District police lost 22 BTC in 2022 due to private key mismanagement and that the national tax service exposed recovery phrases for a multi-million-dollar Bitcoin haul. Authorities will review current custody practices across government and public institutions to strengthen digital asset security.
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