🇰🇷 South Korea Probes Loss of Seized $BTC in Phishing Attack
South Korean authorities have launched an investigation after a large amount of Bitcoin seized in a criminal case mysteriously disappeared while under official custody.
According to local media reports, prosecutors in the Gwangju District confirmed that an internal audit revealed the seized cryptocurrency was likely stolen through a phishing attack during the storage and management process. The Bitcoin had been confiscated as part of an earlier criminal investigation and was supposed to be securely held by authorities.
An official involved in the case stated that investigators are currently examining how the loss occurred and where the missing digital assets may have gone, but declined to share further details as the probe is ongoing.
The incident highlights a growing concern in the crypto space: even government agencies are not immune to cyber threats. Phishing attacks, which trick victims into revealing private keys or wallet access by impersonating trusted platforms, remain one of the most effective tools used by scammers.
According to blockchain analytics firm Chainalysis, crypto-related scams and fraud drained an estimated $17 billion from victims in 2025 alone. The report also noted a sharp rise in impersonation scams, many of which are now powered by artificial intelligence, deepfake technology, and organized phishing-as-a-service networks.
As digital assets become more integrated into legal and financial systems, the South Korean case serves as a strong reminder that robust security measures are essential — not just for individual investors, but for institutions and governments managing cryptocurrency holdings.
📉 Crypto crimes are evolving — and the risks are real, even at the highest levels.