---
title: "South Korea Revamps Crypto Seizure System After $4.4 Million Loss"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286849043.md"
description: "South Korea's National Tax Service is revamping its virtual asset seizure system after losing about $4.4 million in cryptocurrency. The overhaul aims to improve stability, connectivity, and expertise, addressing criticisms of inadequate private wallet management and reliance on manual seizure requests."
datetime: "2026-05-19T03:30:58.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286849043.md)
  - [en](https://longbridge.com/en/news/286849043.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286849043.md)
---

# South Korea Revamps Crypto Seizure System After $4.4 Million Loss

South Korea's National Tax Service is undertaking a comprehensive overhaul of its virtual asset seizure, holding, and sale system following a loss of approximately 6 billion won ($4.4 million) in seized cryptocurrency. According to NS3.AI, the agency aims to enhance the system's stability, connectivity, and expertise. The existing framework has been criticized for its inadequate management of private wallets, dependence on manual seizure requests to exchanges, and insufficient on-site expertise.

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