Dunamu and more than 7 other companies bid for the South Korean police's cryptocurrency asset custody project

According to the Korea Economic Daily, at least seven companies, including Dunamu, the operator of the South Korean cryptocurrency exchange Upbit, have submitted proposals to bid to become the first private custodian of virtual assets seized by the Korean National Police Agency. Other bidders include major custodians Korea Digital Asset (KODA), Korea Digital Asset Custody (KDAC), BDACS, Hecto Wallet One, Infinite Block, and DSRV.

An official from a virtual asset custody institution explained that the selection results may be finalized next month. The official pointed out that in a previous pilot project conducted for the National Tax Service, the winning bidder was determined within one to two weeks after the proposal presentation concluded.