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ARTICLE · 13 JANUARY 2020

How Are Virtual Currencies Seized, Confiscated And Auctioned In Taiwan?

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It is no news that in some jurisdictions there have been cases where virtual currencies being criminal proceeds were seized, confiscated, and even auctioned off by courts or law enforcement agencies.

TaiwanTechnology

It is no news that in some jurisdictions there have been cases where virtual currencies being criminal proceeds were seized, confiscated, and even auctioned off by courts or law enforcement agencies. Are there like cases in Taiwan?

Seizure

Some Taiwanese law enforcement agencies have created virtual accounts (or "wallets") to hold virtual currencies seized from suspects. For example, in a theft of electricity case of 2018 where the stolen electrical power was used for Bitcoin mining, Taiwan's Criminal Investigation Bureau (CIB) detained 5.41249743 Bitcoins mined by the suspect, "after deducting the transaction fee of 0.0002 Bitcoins incurred in storing the seized Bitcoins into a Bitcoin hardware wallet." Chia-Yi District Prosecutors Office v. Chang, 107 Yi 869, Chia-Yi District Court (November 2019).

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