South Korea’s Deputy Prime Minister and Finance Minister Goo Yun-cheol has ordered an urgent review of the management of government-held seized digital assets following notable failures, including the loss of 22 bitcoins by police in Gangnam District in 2022 and a significant $40 billion Bitcoin crediting error at the Bithumb exchange. In light of these incidents, which have drawn attention to the inadequacies in handling digital assets, authorities have committed to implementing stricter protocols to enhance safeguards, although specific details of these reforms were not provided.
South Korean Government orders review of seized digital assets after crypto lapses
