South Korean prosecutors have successfully recovered $22 million worth of Bitcoin that had been lost due to a phishing incident involving a bogus wallet checking tool. In January, officials in Gwangju revealed they had lost control of 320 confiscated Bitcoin during an August 2025 audit when staff inadvertently used a fraudulent online tool, which drained five cold wallets of their contents. This incident spurred outrage, especially after police in Seoul acknowledged having lost an additional $2 million worth of Bitcoin under similar circumstances. In response to these events and the rising trend of crypto-related crime in South Korea, authorities mandated a nationwide audit of all confiscated crypto in cold wallets.
Gwangju District Prosecutors recover $22 million in lost Bitcoin
