E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Natasha Poonawalla In Sabyasachi Mukherjee’s Unique Gilded Saree Steals The Show

August 15, 2022

This is PM Narendra Modi’s New Car: Rs 12.5 crores – Know all about hi-tech, super-safe guard – It’s fort!

August 15, 2022

Bollywood Films Based On Real Life Heroes To Binge-Watch On August 15

August 15, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»Finnish Customs Sold Seized Almost 2,000 Bitcoins
Crypto

Finnish Customs Sold Seized Almost 2,000 Bitcoins

Paul EasterBy Paul EasterJuly 21, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email



Finnish customs have reportedly 1,889.1 BTC with the help of two brokers, gaining over 46.5 million euros (over $47 million).

Selling Seized Bitcoins

According to the official announcement, the customs seized the funds during drug busts and had been legally forfeited to the state following court rulings. The bulk of the digital assets in various criminal investigations was confiscated in raids before 2018. Last year’s bull run catapulted the stash’s worth to $130 million. However, failing to time the market right cost the authorities a significant fortune.

Finland revealed plans to donate seized Bitcoin to Ukraine in April this year. The country’s ruling body has unveiled multiple operations against drug lords, traffickers, and other criminals over the past years.

The government said it was willing to donate as much as $77 million worth of Bitcoin to war-torn Ukraine. Despite a mixed reaction from the community members across the globe, the donation was approved by the Finnish Parliament within the second supplementary budget this summer.

A government official was then quoted saying,

“Of course, no universal money is earmarked that way. But here, as if mentally, this money from bitcoins is earmarked so that it can be used to support Ukraine.”

Currently, there are about 90 BTC still in Customs’ possession, awaiting a valid judgment of forfeiture.

DOJ Seizes and Forfeits Nearly $500,000

There are no set rules regarding the confiscated Bitcoin, but several countries have sold off such funds.

A lot of institutions in the United States, for one, like the Internal Revenue Service, the Bureau of Alcohol, Tobacco, and Firearms, the Post Office, the FBI, etc., have been confiscating cryptocurrencies for years. These assets are usually sold in public auctions conducted by the US Marshals Service, a law enforcement agency within the Department of Justice (DOJ).

The Justice Department recently announced seizing and forfeiting nearly $500,000 from North Korean ransomware entities and their conspirators. A portion of the confiscated funds include ransoms paid by health care providers in Kansas and Colorado. The investigation helped the agency identify a previously unknown ransomware strain.

Last year, the French government announced the auction of 611 Bitcoin seized during the GateHub hack investigation.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



Source link

Paul Easter

Related Posts

Monero Executes Hard Fork To Improve Security and Privacy Features

By Paul EasterAugust 15, 2022

UN Agency Slams Crypto Adoption

By Paul EasterAugust 15, 2022

Over 1.2 Billion aUSD Minted in an Exploit of Polkadot’s DeFi Hub Acala

By Paul EasterAugust 14, 2022

After 2 Months of Sideways, Will XRP Finally Breakout?

By Paul EasterAugust 14, 2022
Add A Comment

Comments are closed.

Our Picks

Natasha Poonawalla In Sabyasachi Mukherjee’s Unique Gilded Saree Steals The Show

By Paul EasterAugust 15, 2022

This is PM Narendra Modi’s New Car: Rs 12.5 crores – Know all about hi-tech, super-safe guard – It’s fort!

By Paul EasterAugust 15, 2022

Bollywood Films Based On Real Life Heroes To Binge-Watch On August 15

By Paul EasterAugust 15, 2022
Recent Posts
  • Natasha Poonawalla In Sabyasachi Mukherjee’s Unique Gilded Saree Steals The Show August 15, 2022
  • This is PM Narendra Modi’s New Car: Rs 12.5 crores – Know all about hi-tech, super-safe guard – It’s fort! August 15, 2022
  • Bollywood Films Based On Real Life Heroes To Binge-Watch On August 15 August 15, 2022
  • Google Doodle celebrates India’s Independence Day 2022 with special flying kite GIF August 15, 2022
  • Ratan Raajputh Recalls Dreadful Incident From Her Theatre Days, Reveals Being Dragged By A Boy Into Jungle August 15, 2022
  • Delhi Traffic Police Advisory for Independence Day: 15 August – Roads to avoid today, timing of closure – full details here August 15, 2022
  • Fahadh Faasil In Talks For Thalapathy Vijay-Lokesh Kanagaraj’s Next? August 15, 2022
Archives
  • August 2022
  • July 2022
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.