South Korea’s Finance Minister has announced a comprehensive review of the management protocols for seized digital assets following a security breach involving the leakage of recovery phrases. The incident has raised significant concerns regarding the security measures employed by law enforcement and judicial agencies when handling confiscated cryptocurrencies. During a recent policy briefing, the minister emphasized the need for a more robust and centralized custody system to prevent unauthorized access to private keys. The review will explore the implementation of multi-signature authentication and enhanced encryption standards to safeguard assets held during criminal investigations. Government officials stated that maintaining the integrity of seized digital property is essential for public trust and the effective execution of the law in the evolving digital economy.
Source: South Korea finance minister pledges review of seized crypto custody after recovery phrase leak
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