The South Korean police have begun an investigation into a significant theft of cryptocurrency that was previously seized by the National Tax Service (NTS). The Cyber Terror Response Team of the National Police Agency stated that they received a referral for the investigation from the NTS and commenced preliminary investigations on the case. This follows an alarming incident where a press release by the NTS inadvertently revealed a photo of a master key known as a 'mnemonic' of a cold wallet, which is essential for accessing the seized assets.

On the 26th, the NTS had been promoting its activities to recover unpaid taxes when the sensitive information was released. Shortly thereafter, claims emerged that cryptocurrency valued at approximately 480 million USD (around 69 billion won) was stolen. The situation has heightened concerns about the security measures in place for handling digital assets and the vulnerabilities that can arise from inadequate information management by government agencies.

The police expressed their commitment to respond promptly to the case, indicating that they would pursue a thorough investigation into how the information leak occurred and how the assets were stolen. This incident has not only drawn attention from law enforcement but also raises broader questions about cryptocurrency regulation and the need for enhanced security protocols in the management of digital fiscal assets in South Korea.