Suspects Arrested After South Korean Police Mishandle $1.4 Million in Bitcoin: Report

In brief

• Police in South Korea’s capital lost access to 22 Bitcoin, or around $1.4 million worth at today’s prices.
• Officers from the Gangnam Police Station were supposed to take custody of seized BTC in their own cold wallets, but instead allowed a third-party to manage them.
• Years later, the Bitcoin was identified as stolen, and two suspects were arrested for their alleged role in the incident.