"Prosecutors dispose of all 320 recovered bitcoins… KRW 31.58863 billion to be transferred to the state treasury"

All of the roughly 320 bitcoins (BTC) that were recovered after being stolen during access to a phishing site have been sold and transferred to the state treasury.

According to the industry on the 10th, the Gwangju District Prosecutors’ Office is said to have sold, in stages over about 11 days from the 24th of last month through the 6th, 320.88 bitcoins it recovered last month, transferring a total of KRW 31.58863 billion to the state treasury.

The bitcoins were assets prosecutors had seized and kept in custody as criminal proceeds. However, circumstances indicating they were stolen and moved outside during access to a phishing site in August last year were reportedly confirmed.

After identifying the theft, prosecutors pinpointed the wallet to which the bitcoins had been moved and, in cooperation with domestic and overseas virtual-asset exchanges, blocked transactions. They then succeeded in recovering the assets on the 19th of last month.

Meanwhile, prosecutors are conducting an investigation into the operator of the phishing site and related domain registration firms, among others.