The investigation into the misappropriation of funds began in December 2017. By seizing bitcoins and selling them years later, the police compensated for the damage and remained in the black.
The affected party received full compensation, police assure. Since the law does not allow overpayment to victims, the police have $1.3 million remaining.
"It is atypical for the value of property obtained through criminal means to exceed its value at the time of the crime, but this allowed us to fully compensate the victim, and the remaining funds can be used to reduce crime levels," said the county police.
Law enforcement representatives promised to invest the funds in the fight against organized crime — the bitcoins will be invested in a specially created fund for confiscated assets.
UK authorities have practiced the confiscation of cryptocurrencies for many years. In 2021, the London police confiscated cryptocurrency worth $250 million during an investigation into an international money laundering scheme, and in 2024 — $1.77 billion in a case of financial fraud in China.
The UK's Financial Conduct Authority (FCA) announced that starting in January 2026, it will introduce new rules requiring cryptocurrency companies in the country to collect and submit detailed client transaction data to the tax authority (HMRC).#BTC☀ #BinanceSquareTalks #BinanceSquareFamily #BTCReserveStrategy $BTC