The South Korean prosecutor's office raised more than $ 10.8 million from the sale of assets in the first cryptocurrency confiscated from a convicted criminal. The funds went to the country's budget, Arirang reports.
Law enforcement officers seized bitcoins in 2017 from a porn site operator. At that time, the seized cryptocurrency was worth a total of about $ 238,000.
Since there was no legislation in the country regarding confiscated digital assets, all this time the authorities kept the cryptocurrency, which increased in price by more than 40 times.
The Suwon District Attorney's Office said that they sold bitcoins on the exchange immediately after the new regulation of cryptocurrencies in the country came into force on March 25.
Law enforcement officials noted that this is the first time in South Korea that digital currency proceeds from criminal activities have entered the national budget.
Recall that the German prosecutor's office cannot access 1,700 BTC (~ $ 101 million) confiscated several years ago due to the lack of a password to the wallet.
