South Korean prosecutors sell $21.5 million in seized bitcoin once lost to phishing attack
South Korean prosecutors sold 320.8 bitcoin, worth $21.5 million, which had previously been stolen via phishing but later returned.Summary
The Gwangju District Prosecutors' Office in South Korea sold 320.8 bitcoin (BTC), realizing 31.6 billion Korean won ($21.5 million) which was transferred to the national treasury. This cryptocurrency was initially seized from an international gambling platform operating between 2018 and 2021. In a major security lapse in August 2025, officials managing the bitcoin fell for a phishing attack, leading to the theft of the cryptocurrency, though the loss was only discovered in December. The hacker subsequently returned the 320.8 BTC last month after prosecutors blocked access to liquidation channels. The sale occurred in batches over 11 days in late February and early March, while the hacker remains at large. This incident highlights broader security lapses in South Korean agencies, including the loss of 22 BTC by Seoul police and the National Tax Service inadvertently exposing a recovery phrase, leading to the loss of $4.8 million worth of tokens.
(Source：The Block)