Question 1

Who won South Korea's police contract to store seized crypto?

Accepted Answer

Dunamu, the operator of the Upbit exchange, was ranked first with 94.73 points and named preferred bidder for the one-year, 267 million won (about $193,000) custody contract, with a KDAC-Korbit consortium second and Hecto Wallet One third.

Question 2

Why are rival custody firms criticizing the decision?

Accepted Answer

Smaller firms said that requirements for immediate full custody, a 24-hour response team, and 100% compensation for hacking losses were difficult for anyone but a large exchange, and one bidder said its request for an on-site inspection was never reflected in the scoring.

Question 3

What prompted South Korea to outsource custody of seized crypto?

Accepted Answer

The push followed two 2026 losses: about 320 Bitcoin worth $48 million disappeared from the Gwangju District Prosecutors' Office in January, and 22 Bitcoin worth around $1.5 million vanished from Gangnam police custody in February, both involving USB-based wallets.

KDAC

Criticism follows as South Korea police picks Dunamu for crypto custody

One sharp brief.
Every day.

KDAC

Criticism follows as South Korea police picks Dunamu for crypto custody

One sharp brief.Every day.

One sharp brief.
Every day.