South Korean Authorities Reclaim Stolen Bitcoin Worth $21.4M
South Korean prosecutors recently announced the recovery of 320.8 Bitcoin (BTC), valued at approximately $21.4 million, which had been stolen during a security breach last year.
The incident was first detected in December when prosecutors realized that BTC seized during a raid on a gambling platform had disappeared. An internal investigation later revealed that an investigator accidentally visited a phishing website in August and entered a recovery phrase, allowing hackers to gain access.
Hacker Returns Funds, Identity Still a Mystery
In a surprising twist, the hacker returned the 320.8 BTC to a wallet controlled by South Korean law enforcement. Authorities had previously blocked the wallet’s trading activity on centralized exchanges, making it difficult for the hacker to liquidate the stolen funds.
- Recovered funds have now been moved to a domestic exchange for safekeeping
- Authorities are continuing their investigation to identify the hacker