Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Sweden gives three drug dealers back their Bitcoin worth €1.3 million

Sweden gives three drug dealers back their Bitcoin worth €1.3 million

Authorities will hand back the seized crypto after a prosecutor demanded the then-cash value of the tokens. It's now worth ten times as much.

Three convicted drug dealers will have over €1.3 million worth of Bitcoin returned to them by the Swedish government after a legal misstep saw prosecutors value the proceeds of their crime in Swedish Krona and not in crypto.

Prosecutor Tove Kullberg successfully charged the men in April 2019, arguing that 36 Bitcoin seized by Swedish police the year before should be confiscated as they were earned through their illegal online drug sales.

However, in her indictment, Kullberg converted the value of the cryptocurrency to Swedish krona, meaning the government was only legally entitled to seize the cash value of the Bitcoin at the time - roughly 1.3 million krona (€127,000).

"It is unfortunate in many ways," she told national broadcaster Sveriges Radio. "It has led to consequences I was not able to foresee at the time".

According to Kullberg, the case was among the first occasions Swedish prosecutors had been faced with handling the proceeds of crime denominated in cryptocurrency.

How did this happen?


After the men were sent to prison in May 2019, it fell to Sweden's State Enforcement Authority to auction off the proceeds of the drug crime, a process that took over two years to carry out.

In that time, the value of the 36 Bitcoin skyrocketed from roughly €130,000 to almost €1.5 million today.

"This means that when these Bitcoins are liquidated, there will be Bitcoin left over because the debt will be covered much faster," Kullberg told Sveriges Radio.

The men's debts will be covered by the sale of roughly three Bitcoin at today's prices, meaning the remaining balance of around 33 will be returned to them by the Swedish state.

‘A lack of guidance’


Kullberg told Sveriges Radio that the episode carried some important lessons for prosecutors dealing with cryptocurrency in the future.

"It is unfortunate that it has ended up this way. The lesson to be learned from this is to keep the value in Bitcoin. That the proceeds of crime are 36 Bitcoin, regardless of the value of the Bitcoin at the time," she said.

Kullberg also called for more training on cryptocurrencies to be given to criminal prosecutors, saying that at the time this case was handled there was an almost complete lack of guidance available.

"I think there should be investment in in-house training as cryptocurrency will be a factor to be reckoned with much more than it has been to date. As we increase knowledge within the organisation, the fewer mistakes will happen along the way," she told Swedish radio.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
×