Gwangju prosecution dey investigate say dem fit lose ₩70bn after dem confiscated Bitcoin wallets waka enter phishing
Gwangju District Prosecutors’ Office for South Korea don start internal investigation afta one routine audit find sey dem fit don drain seized bitcoin after one suspected phishing incident. Prosecutors talk say staff wey dey check passwords wey dey stored for removable drives reportedly open one fake website, fit don expose wallet credentials. Officials never confirm di exact amount wey loss publicly; internal estimates wey circulate one time put am as high as 70 billion won (~US$47.7m), though di office still dey trace funds and verify technical details. Di case show sey phishing still dey risk for custody of seized crypto and institutional handling of private keys, and e follow similar scams wey collect seed phrases via spoofed sites and fake meeting links. Traders suppose monitor any on-chain traces or wallet movements and expect more disclosures as prosecutors try trace and recover assets.
Bearish
Di be say tori fit make BTC price sentiment go down small time because reports sey plenty seized bitcoin loss happen due to phishing raise how people see operational and custody risk for institutional holdings. Traders dem dey often react to theft or compromised custody by selling or by raising risk premia, wey fit put pressure make price fall. The uncertainty about the exact amount and ongoing tracing fit cause wahala (volatility) until authorities give clearer findings or dem recover the funds. For medium to long term, the real impact on Bitcoin supply small unless na confirmed, no-go-recover transfer of very big holding; market confidence fit return if prosecutors trace and freeze the moved funds or if the event make custody practices tighter. So immediate effect na negative (bearish) because risk and uncertainty don increase, while long-term effect depend on recovery and regulatory or custody responses.