Seized cryptocurrency in South Korea is being consolidated under Dunamu’s Upbit Custody, where South Korea’s National Police Agency (NPA) began moving assets from criminal cases on Monday, Nov. 9. The move brings storage once handled across investigative units into a single service.
The holdings will be stored without internet access. Police may return them, release them provisionally or send them along with cases to prosecutors. Upbit Custody will advise officers on asset-specific transfers at any hour and pay the associated charges. Dunamu will reimburse the NPA in full for losses involving assets held by the service.
A 2021 illegal-gambling case in Gwangju involved a seizure effort of 1,798.3 Bitcoin (BTC). Police secured 320.8 BTC after a wallet’s recovery phrase enabled someone to move funds; the phrase is a set of words that can restore access.
An August public procurement process named Dunamu as the final custody provider. The contract runs for one year.
