Authorities are being forced to pay the man 33 BTC, around $1.5 million, after his illegally obtained bitcoin appreciated while behind bars.
A Swedish prison is being awarded around $1.5 million
Bitcoin by the same government who arrested and locked him up.
According to The Telegraph, the jailed supplier has locked
up two years ago after being convicted for selling drugs online and illegally
amassing 36 BTC via those sales.
Luckily for him, the prosecutor of the case, Tove Kullberg,
used the fiat value of the coin to make her initial case. Ergo, the court
judged that the man’s crypto is seized because it was earned illegally, which
was worth $100,000 at the time.
However, in the two years since the original conviction, the
price of bitcoin has skyrocketed and the dealer’s crypto stash had appreciated
to more than $1.5 million. The problem for them is that just 3 BTC was needed
to satisfy the court’s original settlement of $100,000 based on the same 36
bitcoins.
That leaves 33 BTC left from the criminal’s wallet that
Sweden must now return. Had they sold the 36 coins at the time of
incarceration, they would have avoided this problem completely.
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Kullberg said, “The lesson to be learned from this is to
keep the value in Bitcoin, that the profit from the crime should be 36 Bitcoin,
regardless of what value the Bitcoin has at the time.”
She also suggested taking steps to invest in “internal
education” in the prosecution authority. This would ensure better undertaking
of legal proceedings as cases related to cryptocurrency might increase in the
future. Kullberg said, "The more we increase the level of knowledge within
the organisation, the fewer mistakes we will make."
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