South Korea sells $21.5M in recovered Bitcoin after custody breach

Authorities sold the recovered Bitcoin in small batches over 11 days to avoid disrupting the market, according to local media reports.

South Korean prosecutors have sold 320.8 Bitcoin recovered after a phishing incident temporarily removed the crypto from government custody.

The Gwangju District Prosecutors’ Office said it sold 320.8 Bitcoin (BTC) at market prices and transferred 31.59 billion Korean won (about $21.5 million) to the national treasury, The Chosun Ilbo reported Tuesday.

Authorities reportedly sold the Bitcoin in small batches over 11 days between Feb. 24 and March 6 to avoid disrupting the market.

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