South Korean prosecutors have successfully recovered $22 million worth of Bitcoin that was lost to a phishing attack. The incident involved 320 Bitcoin, which had been confiscated and stored in cold wallets by officials in Gwangju. The loss was discovered in January when it was revealed that the Bitcoin had been drained from the wallets via a phishing platform used during an audit. The Gwangju District Prosecutors' Office quickly identified the phishing site's crypto wallet and coordinated with domestic and international exchanges to block transactions from it. The cold wallets were initially seized during a 2021 investigation into an illegal online gambling operation. The trials of the suspects involved are ongoing. In response to the incident, authorities across South Korea have been ordered to audit cold wallets to prevent further losses.