Dunamu Secures South Korean Police Crypto Custody Contract

Dunamu outperformed competitors K-DAC and Hecto Wallet One by securing a total score of 94.73, buoyed by a maximum 10 points for its bid price and 84.73 points in technical assessment. The contract requires the provider to maintain 24-hour monitoring and provide full compensation in the event of hacking or loss. This mandate follows embarrassing incidents in which Bitcoin seized by the Gwangju District Prosecutors’ Office and other police units went missing, highlighting a critical need for professional external custody.

The selection has sparked friction within the industry. Smaller custody firms argue that the rigid tender requirements—specifically the demand for instant, full-scale asset management and total liability—heavily favored large exchange operators over standalone providers. Critics further noted that the evaluation lacked on-site inspections of security infrastructure, relying instead on the bidder’s existing exchange operations record. Despite these objections, the National Police Agency maintains that the bidding process remained fair and transparent.