The South Korean police have arrested two suspects in the case of 1.4 million dollars worth of stolen Bitcoin

According to Cointelegraph, South Korean police have arrested two suspects in a case involving the theft of 22 bitcoins (worth approximately $1.4 million). These bitcoins were originally seized by the police in November 2021 from a hacking incident at an exchange, but the police violated regulations by storing them in a cold wallet controlled by a third party, and the police themselves did not possess the wallet's mnemonic phrase.

It was reported that the wallet's mnemonic phrase was later given to a person named "Mr. Jeong" as part of a loan agreement. This case was discovered four years later during an audit of another case involving the disappearance of 320 bitcoins at the Gwangju District Prosecutor's Office nationwide.