Two suspects arrested over theft of $1.5 million in Bitcoin stolen from police custody in outrageous blunder — Korean cops left virtual assets stored with a third party, who handed over recovery key to hacker

Two suspects have been arrested in South Korea for stealing 22 Bitcoins, valued at $1.5 million, from police custody. The theft was discovered during an audit prompted by another case of missing Bitcoin. The stolen crypto was stored in a cold wallet controlled by a third party, who mistakenly gave the recovery key to a hacker. The police failed to follow regulations by not storing the seized assets in a separate vault under their direct control. This incident highlights the need for better security measures when handling virtual assets.