South Korea's tax agency plans to select a specialized custody firm to manage seized virtual as
South Korea's Tax Agency to Outsource Seized Crypto Custody After Seed Phrase Leak
South Korea's tax authority is moving seized crypto to professional custody. The decision follows a February incident where seed phrases were leaked during a public announcement, resulting in two thefts. Now, the National Tax Service will select a private custodian by mid-year based on security, size, and insurance under the Virtual Asset User Protection Act. A new task force is also revising seizure-to-sale protocols and expanding training. A dedicated "Digital Asset General Division" is in the works. The message: self-custody isn't cutting it anymore.
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