South Korean police lose Bitcoin seized and stored in a cold wallet since 2021 According to The Block, the Gangnam Police Department in Seoul, South Korea, found in a recent internal investigation that 22 bitcoins (worth approximately $1.5 million) seized since November 2021 have been transferred out of a USB cold wallet. Due to the suspension of relevant investigations, the loss of this asset has not been detected for a long time. The USB device itself was not stolen. The Northern Gyeonggi Police Department has initiated an internal investigation to determine the specific circumstances of the fund loss and whether there are any internal personnel involved. The police refused to provide further explanation regarding the ongoing investigation. This discovery is due to the nationwide seizure management special inspection launched by the Gwangju District Prosecutor's Office after the recent incident of 320 seized bitcoins being lost. Local media reported that the evidence management personnel of Gwangju prosecutor's office seized and stolen Bitcoin due to mistakenly logging into a phishing website.