Overview
- Dunamu was named the final contractor on Aug. 7 for a one-year, 267 million won contract to store and manage cryptocurrencies seized by the National Police Agency.
- Under the agreement, Upbit Custody will accept seized assets immediately and run 24/7 monitoring and response operations so custody controls run nights, weekends and holidays.
- Dunamu says it will keep assets in a fully offline cold-wallet environment and use Multi-Party Computation, Distributed Key Generation, multi-signature controls and separate wallets for different asset types.
- The public tender was run by the Public Procurement Service and awarded after technical evaluations that ranked Dunamu highest; the move follows confirmed cases of missing police-held Bitcoin, including 22 BTC lost from Gangnam Police custody.
- Industry participants warn the tender rules favored large exchange operators and say the one-year term leaves open questions about audits, liability enforcement for future losses and a longer-term custody strategy.