Upbit parent Dunamu to custody seized crypto for South Korean police
Dunamu has secured a one-year contract to take custody of digital assets seized by South Korea‘s National Police Agency after winning the agency’s public tender process. According to a statement released by Dunamu on Aug. 7, the Upbit operator was named the final winner of the Korean National Police Agencys project to store and manage confiscated digital assets following technical negotiations that concluded the procurement process. The announcement completes a bidding process that began earlier this year, with the company moving from preferred bidder status to the final contractor after negotiations with the police agency. The one-year agreement will place seized cryptocurrencies from police investigations under Dunamus custody platform. Upbit Custody will manage seized crypto assets Procurement documents show the contract was awarded through an open competitive tender administered by South Koreas Public Procurement Service. Dunamu said it received the highest technical evaluation score of 94.14 before being selected as the final contractor. The company had previously been designated as the preferred negotiating bidder on July 8. Earlier procurement records valued the contract at 267 million won, or about $195,000, for one year of custody and management services covering digital assets confiscated during criminal investigations. Under the agreement, seized cryptocurrencies will be stored and managed through