21.2 C
New York
Friday, September 24, 2021

Buy now

Sweden to return 1.2M to a dealer for the appreciation of bitcoin when he was in prison

The Swedish government must return more than 1.2 million euros in bitcoin to a drug dealer. The Nordic country has to deliver that sum to the criminal after the price of the digital asset increase in value while serving prison, as published by The Telegraph.

Just two years ago, the Swedish Enforcement Authority confiscated 36 bitcoins from the man. At that time, the volatile price of the largest cryptocurrency the world has gone from worth more than three thousand euros per unit. E assets have increased 66% so far this year and 313% in the last twelve months.

Photo: Reuters
Bitcoin surpasses $ 50,000 for the first time since May


Prosecutor Tove Kullberg explained that two years ago she successfully argued in court that the defendant should be stripped of his earnings, 36 bitcoins, which at that time were only worth about 116,000 euros. However, as the value of cryptocurrencies soared at the start of the auction, only three had to be sold to reach the figure that the drug trafficker obtained with his activity.

Popular currency among criminals

Thus, Sweden is now obliged to return the imprisoned trafficker the remaining 33 bitcoins, which this week are worth more than 1.3 million euros, despite their illicit origin. There are many criminals who resort to the use of these virtual currencies, which has generated criticism of bitcoin and other major cryptocurrencies.

Since the transactions that are recorded on the blockchain are impossible to detect by governments and other central authorities such as banks, it is a payment made by criminals such as hackers and other people who operate outside the law.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected


Latest Articles