Исчезновение биткоинов на сумму $48 млн из прокуратуры Южной Кореи: утечка пароля или фишинговая атака? Translation: Disappearance of $48 million in Bitcoins from South Koreas Prosecutors Office: Password Leak or Phishing Attack?

The South Korean prosecution in the Gwangju district has initiated an investigation into the disappearance of the country’s first cryptocurrency, valued at 70 billion won ($47.7 million). Local media report this information.

The government agency discovered the missing bitcoins during a routine audit of seized assets.

An internal review revealed that the disappearance was due to a leaked password. One of the agency’s staff members fell victim to a phishing attack after accessing a counterfeit website.

“We are currently looking into the circumstances surrounding the loss and the whereabouts of the confiscated assets. We cannot confirm any specific details,” commented representatives from the prosecution in a conversation with Yonhap News.

In early January, the Supreme Court of South Korea for the first time recognized the legality of confiscating bitcoins from exchange wallets in criminal cases. Previously, only the seizure of assets for the benefit of the state was permissible.

On January 19, authorities in South Korea dismantled a money transfer network through which criminals moved digital assets worth 150 billion won (approximately $110 million).

The local customs office has turned over to the prosecution a case involving three suspects, including a 30-year-old Chinese national. They are charged with violating the Foreign Exchange Regulation Act.

The investigation revealed that the illegal group laundered over $100 million over four years through payment services WeChat Pay and Alipay. The scheme involved fraudsters converting funds into cryptocurrency on foreign exchanges, transferring it to wallets in South Korea, and then cashing out.

To disguise the transfers, legal descriptions were used, such as payments for plastic surgeries and education for students abroad.

It is worth noting that in November, the largest South Korean exchange, Upbit, experienced a hack resulting in a loss of $36.8 million due to a vulnerability in its internal system.