Seoul Police Investigate $4.8 Million Cryptocurrency Heist

The Seoul Metropolitan Police Agency has launched an investigation into the alleged theft of $4.8 million in cryptocurrency seized by the National Tax Service.

According to officials, the investigation was sparked after a mnemonic code, used to access a cold wallet, was inadvertently exposed in a press release from the police agency on Thursday.

A cold wallet is a physical electronic device used to store virtual assets. However, with a mnemonic code, it is possible to restore the wallet and transfer coins without the physical device.

The police are analyzing the flow of virtual assets and tracking the perpetrator in an effort to identify any suspects who may have been involved in the theft.