Government and Crypto Hacks

[cryptoaddictchie]

This news just come to my feed, and it talks about the government of South Korea has sold roughly around 320 BTC. The said bitcoin comes from a hacker, specifically using phishing method. This hacker returned the stolen bitcoin allowing the prosecutor to confiscate and sell it to others. Does this mean the government are still tracking the world of bitcoin and crypto? If they have those amount of bitcoin, what do you think of the thought that they just sell it and don't try to study and understand the crypto to make in benefit of them? Or can they centralize the world of cryptocurrency?

Like other says. There should be some sort of source for this scenario. To find out what happened with this event cause we dont know if this is real or fiction. No offense since thats how news work in here when you layout some story.

Maybe try to add it next time or edit your post and add some source or link to prove this story. By any means any illegal stuff caught by government are usually will be confiscated by them with regards what theire gonna do? Obviously anything that will benefit thr govt either study or commonly sell and add to the govt funds.

[bitgolden]

This news just come to my feed, and it talks about the government of South Korea has sold roughly around 320 BTC. The said bitcoin comes from a hacker, specifically using phishing method. This hacker returned the stolen bitcoin allowing the prosecutor to confiscate and sell it to others. Does this mean the government are still tracking the world of bitcoin and crypto? If they have those amount of bitcoin, what do you think of the thought that they just sell it and don't try to study and understand the crypto to make in benefit of them? Or can they centralize the world of cryptocurrency?

No they South Korea has known crypto for too long, they just sold the bitcoins they seized, which does not mean they knew nothing so they did not care to hold so they sold. That's not the way to see things, it is possible that they knew more than you so they did not held, they think it is better according to their laws to sell the bitcoins for now.

There was a time Germany sold 50k bitcoins and later they said they should create their own reserve too as every country is now talking about it so.

But it was late for them and you are right to think about South Korea in the same manner, too maybe they don't understand they made a mistake but 320 btc is not a big amount for a country like South Korea.

As long as they make smart investments, selling is not a bad idea. But just because they had some gap and wanted to sell and cover for it to pay for the difference is not a smart move.

Germany did that, UK did that too, they sold and used it to pay for the difference in the spending the government has and the income it has, so that was a wrong move. Sure if you want to sell, so that you can buy cheaper and do better then that is a good move because they can buy cheaper later on.

[Faisal2202]

As long as they make smart investments, selling is not a bad idea. But just because they had some gap and wanted to sell and cover for it to pay for the difference is not a smart move.

Germany did that, UK did that too, they sold and used it to pay for the difference in the spending the government has and the income it has, so that was a wrong move. Sure if you want to sell, so that you can buy cheaper and do better then that is a good move because they can buy cheaper later on.

Don't know about the UK but I am not going to forget about Germany, they sold at an average of $53k. Do you think Bitcoin will dump lower than $53k? I don't think so, even if price dumps lower than $53k, they made a bad deal. First, they sold too early, which causes panic in the market and starts a chain of selling too but that was good for the long-term move.

Anyway, later they showed interest in having a strategic reserve and buying bitcoin. At least they are not feeling anything they should be feeling and made a statement about the strategic reserve. A lot of countries when sold they did not knew what is the future of bitcoin is! That's my theory, but now they do.

[SquirrelJulietGarden]

Don't know about the UK but I am not going to forget about Germany, they sold at an average of $53k. Do you think Bitcoin will dump lower than $53k? I don't think so, even if price dumps lower than $53k, they made a bad deal. First, they sold too early, which causes panic in the market and starts a chain of selling too but that was good for the long-term move.

It depends on their national strategies but also depends on their national laws like what must be done with seized bitcoins from criminals.

You can check German government Bitcoin treasury and their sales.
https://bitcointreasuries.net/governments
Go down to Germany
https://bitcointreasuries.net/governments/germany

As of April 29, 2025, Germany has sold off all of its bitcoin holdings. The government's current position on Bitcoin remains focused on regulation and oversight, with no significant investments reported.

And they "held bitcoin since January 30, 2024" according to the same site so they held these coins a little bit more than one year.

[Faisal2202]

It depends on their national strategies but also depends on their national laws like what must be done with seized bitcoins from criminals.

You can check German government Bitcoin treasury and their sales.

I know all this for a reason because I created a few topics on it, and I came to learn a lot of things about them like why they sold, and you are right, they sold because of some laws but they could have held and it wouldn't be a problem. You want to read topics I made, you can visit my profile, they are not buried under other topics, easy to find hehe.

That's why I said I can't forget them, they made a mistake and in the future they will regret it but what can be done now, as it is what it is haha. The opportunity has been lost and they used it for what? Every state that is seizing bitcoins must hold them, they can sell if they want but I am sure their laws are theirs so if they want to hold, they can hold.