---
title: "South Korea Reviews Crypto Custody Provider After Security Breach"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/279934121.md"
description: "South Korea's National Tax Service is reviewing a private custody provider for seized cryptocurrencies after a security breach that led to the unauthorized transfer of $4.8 million in tokens. The breach involved a leaked seed phrase in February. The agency is drafting selection criteria and aims to finalize the provider by mid-2026, following another custody failure involving 22 BTC and an investigation into the management of seized digital assets."
datetime: "2026-03-20T11:21:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279934121.md)
  - [en](https://longbridge.com/en/news/279934121.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279934121.md)
---

# South Korea Reviews Crypto Custody Provider After Security Breach

South Korea's National Tax Service is evaluating a private custody provider for seized cryptocurrencies following a security breach earlier this year. According to NS3.AI, the incident involved a leaked seed phrase in February, resulting in an unauthorized transfer of approximately $4.8 million in tokens. The agency is currently drafting criteria for selecting a provider and plans to finalize the choice by the first half of 2026. This review comes in the wake of another custody failure involving 22 BTC and a cross-agency investigation into the management of seized digital assets.

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