The Supreme Court of South Korea confirmed the decision taken by the lower court to confiscate 191 bitcoins worth $2.3 million from a pornographic portal founder.

The Supreme Court of South Korea confirmed a previous appellate court order to confiscate 191 bitcoins worth 2.4 billion won ($2.3 million) from a South Korean resident named Ahn, who was found guilty of launching a website selling pornographic products. The 33-year-old Ahn was previously sentenced to 18 months imprisonment and fined 696 million won ($600,000). Ahn was arrested and charged in May 2017 for violating the Protection of Children and Juveniles From Sexual Abuse Law. Since 2013, his website distributed 235,000 pornographic pictures and earned 1.9 billion won ($1.8 million).

Furthermore, the Supreme Court called cryptocurrency "an asset with measurable value."

"The cryptocurrency is recognized to have value so it can be confiscated," the Supreme Court said.

It is curious that at the beginning of the trial the lower court ruled against prosecutor's office claim to confiscate bitcoins, saying that they exist only electronically and have no physical form, and therefore can not be confiscated. But the Supreme Court of South Korea satisfied the request of the prosecutor's office, noting that cyber assets can be viewed as profits from illegal trade in goods. Of the 216 bitcoins that were found in Ahn's wallet, 191 were linked to his illegal activities.