Russia To Join US in Offloading Seized Bitcoin

Key Takeaways

• Russia has seized $10 million worth of Bitcoin from a former investigator.
• The state plans to liquidate the confiscated Bitcoin in the coming days.
• The Bitcoin was seized as part of an investigation into the country’s largest bribery case.

Russia is taking cues from the United States by confiscating Bitcoin (BTC) from criminals and funneling it into the state treasury for liquidation.

In a recent court ruling, a judge ordered the transfer of 1 billion rubles (approximately $9.79 million) worth of Bitcoin.

This Bitcoin was linked to Marat Tambiev, a former investigator accused of accepting bribes in cryptocurrency.

Russian Investigator Charged in Historic Bitcoin Bribery Case

The case involving Marat Tambiev has been labeled as the largest bribery scandal in Russian history.

Tambiev admitted his guilt in court and was sentenced to 16 years in prison in 2023. He was found guilty of accepting bribes from the Infraud Organization, a notorious hacking group.

According to TASS media, Tambiev accepted nearly $10 million in Bitcoin, marking it as the largest crypto bribe in Russia’s history.

Prosecutors filed a criminal lawsuit against Tambiev in 2023, leading to the seizure of his assets on Dec. 20, 2024. The confiscated Bitcoin is currently stored in a Ledger hardware wallet.

Investigators revealed that Tambiev extorted bribes from Infraud members to halt their criminal prosecution.

Additionally, he promised to conceal crypto assets valued at 14 billion rubles ($13.6 million).

Russia Set To Liquidate $10 Million Worth of Bitcoin

The Russian government has begun transferring the Bitcoin from Tambiev’s hardware wallet to the state treasury. The total amount set for liquidation exceeds 1,032 Bitcoin, valued at over 1 billion rubles ($10 million).

Russia’s decision to sell seized Bitcoins follows the U.S.’s recent announcement of selling nearly $6.9 billion worth of Bitcoin linked to the Silk Road case.

The decision has stirred anxiety in the crypto market, with fears of added volatility in the market.

However, analysts are confident the market will absorb the sale with ease.