South Korea Evidence-vault Breach Exposes Loss of 22 BTC
South Korean investigators arrested two people after a procedural breakdown at Gangnam Police Station led to the disappearance of 22 Bitcoin, reported at roughly $1.4 million–$1.8 million in value. The core failure wasn’t market volatility or “hack sophistication,” it was basic custody control: authorities lost unilateral access to seized funds. The Gyeonggi Northern Provincial Police […]
South Korean Prosecutors Lost ₩70 Billion in Seized Bitcoin After Phishing Compromise
The Gwangju District Prosecutors’ Office confirmed that roughly ₩70 billion (about $48 million) in seized Bitcoin disappeared after a phishing incident compromised the private keys. The loss occurred in mid-2025 but surfaced during a routine inspection in January 2026, triggering an internal probe and active recovery efforts.
South Korea Advances Bill to Legalize Issuance and Trading of Tokenized Securities
South Korea’s National Assembly passed amendments to the Capital Markets Act and the Electronic Securities Act on January 15, 2026, formally recognizing tokenized securities under Korean law. The package legalizes issuance and secondary trading of blockchain-based securities and starts a one-year preparation period ahead of full implementation in January 2027.
KakaoBank advances with plans for a won-backed stablecoin
KakaoBank, with more than 23 million users, has begun active development of a won-backed stablecoin designed to leverage its large retail base and integration with KakaoTalk. The initiative aims to build proprietary infrastructure and commercial-intent tokens while facing unresolved regulatory parameters that may ultimately shape governance and ownership.