South Korean Officials Confiscate 191 Bitcoin During Criminal Investigation


We have another interesting Bitcoin‐related development in South Korea. For once, this has nothing to do with regulation or anything along those lines. Instead, one criminal saw 191 bitcoins confiscated by law enforcement earlier this week. The individual in question had been running an illegal site. It is evident the confiscation of Bitcoin in South Korea will spark a lot of new debates moving forward. The guilty party feels there is no legal ground on which to do so, and he wants to get his money back.

Running an illegal website linked to Bitcoin transactions is always asking for trouble. It is uncanny how many people still believe Bitcoin can be used to remain anonymous on the Internet, even though the currency clearly lacks any privacy or anonymity features. That situation will not change anytime soon, by the look of things. The South Korean government successfully confiscated 191 BTC from an individual charged with running an illegal site.

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