Dunamu Wins Contract to Custody Seized Cryptocurrency for South Korean National Police Agency

Dunamu has secured a one-year, 267 million won ($195,000) contract to custody digital assets seized by South Korea's National Police Agency. The decision follows multiple incidents of missing cryptocurrencies from police custody, including 22 Bitcoin from the Gangnam Police Station. Dunamu's Upbit Custody will manage the assets using 100% offline cold wallets, Multi-Party Computation, and 24/7 monitoring. Dunamu won the competitive tender with a score of 94.73, beating out competitors K-DAC and Hecto Wallet One.

Dunamu police custody contract

• ▪The custody contract between Dunamu and the South Korean National Police Agency is valued at 267 million won, which is approximately $195,000.
• ▪Dunamu secured a one-year contract to take custody of digital assets seized by South Korea's National Police Agency, finalizing negotiations on August 7, 2026.

Upbit cold wallet security

• ▪Dunamu will store and manage the seized cryptocurrencies through Upbit Custody using 100% offline cold wallets isolated from the public internet.
• ▪Upbit Custody utilizes Multi-Party Computation, Distributed Key Generation, multi-signature technology, and wallet segregation to secure the seized digital assets.

Competitive bidding evaluation scores

• ▪Korea Digital Asset Custody finished second in the police tender with 91.29 points, while Hecto Wallet One placed third with 87.27 points.
• ▪Dunamu won the open competitive tender with a combined score of 94.73, including a technical evaluation score of 84.73 and full marks for its bid price.

Previous Bitcoin losses

• ▪In February 2026, South Korea's Gangnam Police Station confirmed that 22 Bitcoin worth approximately 2.1 billion won had disappeared from police custody.
• ▪The Gwangju District Prosecutors' Office and other South Korean police units previously lost seized Bitcoin, including a case involving 320 missing Bitcoin.

South Korean seized asset management

• ▪South Korean authorities moved to outsource custody responsibilities to external institutions following unauthorized transfers of seized cryptocurrencies from police storage.
• ▪The National Police Agency rejected industry concerns that the tender requirements, such as immediate custody and full hacking compensation, unfairly favored large operators.