South Korean police have seized $1.3 million worth of crypto in criminal investigations so far this year, official numbers have revealed.
According to Segye Ilbo, the figure is just a small fraction (1.4%) of the total $92 million worth of assets seized by officers in criminal investigations.
The data was compiled by the National Police Agency and made public by Choi Ki-sang, a Democratic Party lawmaker. It includes figures from the “first half” of 2022, with a total for the year unlikely to be made public until the middle of 2023.
The statistics also showed that officers have asked courts to let them confiscate cryptoassets in 13 separate cases this year. In 2021, officers made 36 such requests – and only made eight requests in the whole of 2020.
$1.3 m Seized: Officers ‘Can’t Keep up with Criminals’
Critics claim that the modest figure of $1.3 million shows that the police simply lack the knowledge and IT capabilities required to fight Web3-era crime. They claim that officers are...
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