Russia Prepares to Sell Seized Bitcoin Assets from Infraud Bribery Case
The Russian government has recently confirmed that it is moving forward with the sale of Bitcoin seized during the Infraud hacking case.
Following the announcement that Bitcoin (BTC) has been used in foreign trade by Russia, the finance ministry is now preparing to liquidate the 1,032 BTC seized from a corrupt government official involved in a bribery scandal.
The BTC, valued at approximately $10 million, was confiscated from Marat Tambiev, a former investigator in the Russian Investigative Committee. Tambiev had allegedly accepted Bitcoin as part of a deal with the Infraud hacker group.
READ MORE: Block Inc. Could Become First Bitcoin-Focused Company in the S&P 500
He was sentenced to 16 years in prison for his involvement, which included assisting the group by protecting their illegal activities in exchange for the digital assets.
As of now, the Russian Ministry of Finance has begun transferring the seized Bitcoin to be sold. This marks another significant step as Russia continues to navigate its role in the global cryptocurrency landscape.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
