Finnish Customs officials have announced that they have recently sold the confiscated Bitcoin Priced at €46.5 million ($47.35 million).
according to a Press release Released today, 1,889.1 in bitcoins were mostly confiscated in raids prior to 2018. The seizure was made during the narcotics bust and transferred to state control through court decisions, but it appears to have been subject to lengthy deliberations on what to do with it. .
In July 2021, the Finnish customs agency Tuli launched 1 Bid For brokers who wanted to sell confiscated crypto on behalf of the state.
Bitcoin reached the peak of its 2021 bull run shortly after and set a new all-time high watermark of $68,790 on November 10th. At this price, the Finnish state’s bitcoin stash could bring in about $130 million.
However, the tender was not resolved until April this year, when two companies were shortlisted for sale.
Tully also says that he has other confiscated cryptocurrencies, but the amount is “more than thousands of euros”. Awaiting the court’s ruling, another 90 bitcoins (worth about $2 million) are in the custody of the agency.
In April this year, Finnish Finance Minister Annika Sarikkos tweeted that the country will donate”Millions“Of the euros earned through the sale of confiscated bitcoins to Ukraine, following Russia’s invasion of the country.
A spokesman for the Customs Agency said decrypt that, “as far as Finnish customs are concerned, the total sales revenue is being donated to Ukraine and the donation has already been approved by the Finnish Parliament within the second supplementary budget this summer.”
confiscated bitcoin sale
Finland is not the only country that has sold confiscated bitcoins from criminals. Across the Atlantic, the US Marshals Service says it has sold 187,381 in seized bitcoin in nine auctions since 2014, but declined to state gains in dollar terms. NBC guess it would have taken $179 million from these sales.
In March 2021, the French authorities 611 bitcoins were auctioned, then valued at $34.5 million, was confiscated during an investigation into the 2019 GateHub hack. Curiously, during the auction, an optimistic buyer paid over $26,000 for 0.11 BTC, a rate of $290,000 per BTC.
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