Ministry of Justice launches virtual asset seizure platform, seizes over 400 million NTD worth of BTC and USDT in two days

The Ministry of Justice officially launched the "Prosecutorial Agencies Seizure Virtual Asset Management Platform" on April 15, emphasizing that virtual assets are not beyond the reach of the law. The technologically advanced Ministry of Justice serves as a shield for progressive law enforcement, ensuring that the scales of justice are not tilted by any technological disparities.

Prosecutors Seize Virtual Asset Management Platform

According to an announcement by the Ministry of Justice, due to the anonymity and convenience of virtual assets, they have gradually become a tool for various criminals to evade tracking, prompting law enforcement agencies to enhance their technological capabilities to combat crimes.

Therefore, the Ministry of Justice commissioned the Taiwan High Prosecutors Office to establish the "Prosecutors' Virtual Asset Seizure and Management Platform," which officially went live on April 15. In the future, virtual assets seized from defendants or criminal suspects can be securely stored in the system, awaiting confiscation or return to victims after a final judgment to effectively deprive the defendants of their ill-gotten gains.

The Ministry of Justice stated that planning for the seizure platform started in August 2022 and after several meetings, they decided to commission the Taiwan High Prosecutors Office to build the management platform.

After the completion of the platform, representatives from the prosecution were convened to discuss the unified process and negotiate the operational details with the judicial police agencies. Additionally, seven educational training sessions were conducted for the prosecutors, with a total of 155 participants, to ensure system stability and security upon going live.

Over 400 Million New Taiwan Dollars Seized Within Two Days of Launch

According to reports, since the launch on the 15th, the seizure platform has confiscated a total of 450 million New Taiwan Dollars in illicit virtual assets.

On the morning of the 15th, the New Taipei District Prosecutors Office seized 6.79 million Tether USDT tokens, equivalent to approximately 203 million New Taiwan Dollars.

On the 16th afternoon, the Taichung District Prosecutors Office successfully seized a total of 123 Bitcoins and 8 Ethereum tokens, with a total market value exceeding 250 million New Taiwan Dollars. The two district prosecutors' offices combined have seized approximately 450 million New Taiwan Dollars.