{"id":40033,"date":"2021-04-02T14:04:27","date_gmt":"2021-04-02T11:04:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=40033"},"modified":"2025-08-30T12:17:00","modified_gmt":"2025-08-30T09:17:00","slug":"south-koreas-authorities-sold-seized-bitcoins-for-10-8-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/south-koreas-authorities-sold-seized-bitcoins-for-10-8-million\/","title":{"rendered":"South Korea&#8217;s authorities sold seized bitcoins for $10.8 million"},"content":{"rendered":"<p>South Korea&#8217;s prosecution raised more than $10.8 million from the sale of assets seized from a convicted criminal in Bitcoin. The funds were deposited into the national budget, according to <a href=\\\"http:\/\/arirang.com\/news\/News_View.asp?nseq=274861\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">Arirang<\/a>.<\/p>\n<p>Authorities seized the bitcoins in 2017 from the operator of a pornography site. At the time, the seized cryptocurrency was worth about $238,000.<\/p>\n<p>Because the country lacked legislation on confiscated digital assets, the authorities held onto the cryptocurrency for all this time, which had risen in value more than forty-fold.<\/p>\n<p>The Suwon District Prosecutor&#8217;s Office said that the bitcoins were sold on an exchange immediately after the country&#8217;s new cryptocurrency regulation took effect on March 25.<\/p>\n<p>Authorities noted that this is the first instance in South Korea where proceeds from criminal activity in a digital currency have flowed into the national budget.<\/p>\n<p>As reported, the German prosecutors <a href=\"https:\/\/u1f987.com\/en\/news\/german-authorities-have-confiscated-1700-btc-but-have-yet-to-gain-access-to-them\">cannot access<\/a> the confiscated 1,700 BTC (about $101 million) from several years ago due to the lack of a password to the wallet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Korea&#8217;s prosecutors raised more than $10.8 million from the sale of assets seized from a convicted criminal in Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":40034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1172,974],"class_list":["post-40033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-seized-bitcoins","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=40033"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40033\/revisions"}],"predecessor-version":[{"id":40035,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40033\/revisions\/40035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/40034"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=40033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=40033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=40033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}