South Korean police lose seized bitcoin
According to reports, the South Korean police have lost some of the bitcoin confiscated during an investigation. The amount is 6 billion won (about $4.5 million), seized in 2017 as part of a fraud case.
According to a representative of the National Police Agency of South Korea, the cryptocurrency was transferred to 'another wallet' and the authorities are currently trying to regain access to it. Details of the incident, including how the bitcoin was lost, have not been disclosed yet.
Home invasion attempt on Binance France head
Cédric Jove, the president of Binance's French subsidiary, reported that unknown intruders attempted to break into his home. Fortunately, the criminals failed to gain entry.
According to Jove, the incident occurred late at night when he was home with his family. He noted that the police are investigating the incident, but it is unclear whether it was related to his work at Binance.
Other key news
- Wells Fargo bank has closed the account of cryptocurrency exchange Kraken without explanation. Kraken representatives called this a 'breach of contractual obligations'.
- Circle, the issuer of the USDC stablecoin, announced the layoff of 10% of its employees amid volatility in the crypto market.
- Crypto exchange Gemini is launching its own Gemini Pay payment system, allowing customers to pay with cryptocurrency at retail stores.
Expert opinion: It's clear that the crypto industry continues to face various security issues, including the loss of digital assets by law enforcement and attempted robberies of crypto company executives. This once again demonstrates the need for further improvement in the protection of cryptocurrency storage and better integration between the crypto space and the traditional financial system. It is important that regulators and market participants continue to work on enhancing the security and trust in crypto assets.