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South Korean gov't makes $10.5M profit from 4-year-old Bitcoin crime haul

Published 04/01/2021, 07:07 AM
Updated 04/02/2021, 03:40 AM
South Korean gov't makes $10.5M profit from 4-year-old Bitcoin crime haul
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South Korean prosecutors have finally sold a Bitcoin (BTC) haul they confiscated from a criminal in 2017 and it’s worth $10.5 million more than it was at the time of the arrest. The cash has reportedly been deposited in the coffers of the country’s national treasury.

According to reports coming out of the Suwon District Prosecutors Office, this is the first time confiscated Bitcoin has been sold by authorities, and the first time the coins in question have moved since being put into cold storage in 2017.

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