The Swedish government must return 33 bitcoins worth more than $ 1.5 million to the drug dealer as part of the case over the seizure of the country’s first cryptocurrency. The prosecutor in the case, who wanted the cryptocurrency arrested because it was of illegal origin, recorded the amount of dollars arrested, and due to price fluctuations, the government must return the specified amount. This case could have consequences in future cases.
Swedish government to pay back 33 bitcoins to drug dealer
The Swedish government must reimburse the drug dealer for 33 bitcoins worth more than $ 1.5 million in a case that could affect future similar cases. The drug dealer was arrested by Swedish law enforcement two years ago and 36 bitcoins were seized at the time. The prosecutor handling the case, tuve Kullberg, argued that the entire stash full of bitcoins had a criminal origin and managed to seize the cryptography.
However, Kullberg uses dollar amount instead of cryptocurrency in his own case. Since then, the price of bitcoin has increased significantly, allowing the value of the seized bitcoin to continue to rise, while the registered amount seized has remained the same. Only 3 bitcoins were sold to pay the seized amount.
Main Error
This thinking led the Swedish government to pay the difference to the drug dealer, even knowing that the cryptocurrency was linked to an illegal origin, according to the release. Kullberg said::
The lesson to be learned from this is to preserve the value of bitcoin, regardless of the value that bitcoin currently holds, the profits from the crime must be 36 bitcoins. This led to consequences I could not have predicted at the time.
The prosecutor described the incident as” unfortunate” and pointed to a lack of experience with cryptocurrencies related to criminal offences. In addition, this case may serve as a legal practice for future cases, which is an odd occurrence for Swedish October law.
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