Russia Seizes $10M Worth of Bitcoin from Former Law Enforcement Official
- 2,718 Bitcoin confiscated from ex-ICRF official.
- Involved in largest bribery case in Russia.
- Confiscated bitcoins will be added to state revenue.
Russian authorities have seized approximately $10 million worth of Bitcoin from Marat Tambiev, a former employee of the Investigative Committee of the Russian Federation (ICRF).
The seizure, reported by the local news agency TASS, involved the confiscation of 103 Bitcoin, stored in a Ledger Nano X hardware wallet, marking a significant moment in Russia’s handling of digital assets in legal contexts.
The Largest Bribery Scandal in Russian History
Tambiev’s conviction stems from what has been described as the largest bribery scandal in Russian history, involving a staggering 2,718 BTC bribe, valued at around $258 million at the time of sentencing.
The Nikulinsky District Court of Moscow had previously ordered the seizure of 1,032 BTC from Tambiev in 2023, citing the assets as derived from unconfirmed income.
The case against Tambiev came to light after his arrest in March 2022, where investigators discovered the private keys to his Bitcoin wallet in a folder named “Retirement” on his laptop.
The source of the bribe was traced back to the Infraud Organization, a notorious hacker group. Members from Kazakhstan and Estonia allegedly bribed Tambiev in exchange for favorable judicial decisions, including efforts to halt their own criminal prosecutions and hide assets worth over $138 million in cryptocurrency.
This case not only showcases the scale of corruption within certain sectors of Russian governance but also reflects the country’s evolving stance on cryptocurrency.
Confiscated Bitcoin to be Integrated into Russia’s State Revenue
As part of the legal proceedings, the confiscated Bitcoin will now be integrated into Russia’s state revenue, signaling how the nation is dealing with digital currencies in official capacities.
This development comes as Russia is increasingly considering cryptocurrencies for international trade, especially as a means to circumvent Western sanctions.
The finance minister has indicated openness to using Bitcoin in foreign trade, showcasing a potentially dual approach to crypto — one of regulation and integration, alongside stringent action against its misuse in criminal activities.
