Russia Starts Cashing In 1032 Bitcoin From Record Bribery Scandal

Russian bailiffs have started transferring over 1 billion rubles worth of Bitcoin from former Investigative Committee investigator Marat Tambiev into state revenue. Tambiev, who was convicted for accepting the largest recorded bribe in the history of Russia, had over 1,000 Bitcoin seized during an investigation into his involvement with a hacker group.

The Seizure of 1032.1 BTC

In 2023, the Nikulinsky Court, upon the request of the prosecutor’s office, ordered the confiscation of 1032.1 BTC, which was deemed to have been acquired through unconfirmed sources of income. This seizure has now led to the transfer of the Bitcoin into Russia’s treasury, with the initial stage of the process involving the conversion of the cryptocurrency into over 1 billion rubles.

The investigation revealed that Tambiev used his position to divert police investigations and help the hackers hide illegal funds. Despite his conviction, Tambiev denied all charges during his trial. He rejected any offers of cooperation with the authorities and refused to admit guilt. He even defended his associate, Lyakhovenko, labeling her “a child and a victim” during court proceedings.

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Legal Hurdles in Selling Seized Assets

While Russia has started converting the seized Bitcoin into rubles, the process has not been without its challenges. Tambiev had divided the Bitcoin into smaller amounts, making it necessary for the authorities to file multiple court requests to access and sell all the coins. In addition to Bitcoin, Tambiev’s assets, including real estate and a motorcycle, are also under review for liquidation.

Despite these complications, the Russian government is determined to reclaim the stolen assets and ensure they are funneled back into the state’s revenue.