Finland Sells confiscated Bitcoins. Profits will go to Ukraine.
Finland has sold 1,889 bitcoins that were previously seized in illegal cases for $47.4 million, specifically in cases related to narcotics and doping substances.
An additional 90 bitcoins and other cryptocurrencies still remain in the Finnish Customs (Tulli).
The bitcoins were sold by the two cryptocurrency brokers selected by Customs through competitive negotiated procedure in late spring.as stated in the official press release.
Most of the Bitcoin assets that were sold (1666BTC) were seized in 2016 after the arrest of Douppikauppa, a Finnish drug dealer, who was sentenced to prison a year later. In May, Finnish Finance Minister Annika Saarikko said that profits from the cryptocurrency sale will be directed to Ukraine for humanitarian and reconstruction needs, which continues to be attacked by Russia’s barbaric state. The aforementioned donation was authorized by the Finnish Parliament.
The cryptocurrency community has played a big role in aiding Ukraine throughout Russia’s invasion. The Ministry of Digital Transformation of Ukraine has launched a crypto fund, an NFT war museum, and has received numerous digital asset donations.
