UK Police Made 18,8% Profit from Crypto Trading

It is common knowledge that the cryptocurrency can become a thing, a law, a movable property, and money in the court. A unified judicial practice on cases where digital assets were mentioned somehow does not exist. But they have happened to become a means of security in the court. This state of affairs leads to a very interesting suggestion.

The Serbian hacker Martin MARŠIĆ was arrested in Italy on August 8 for having hacked into the electronic game Redwood City and having gained an access to 25 thousand accounts. He was buying game items and other life beauties through those accounts and he had to pay for this. The game addict was extradited to the USA, but instead of the arrest and preliminary detention, he was offered to post $750 thousand security. And the federal judge of San Francisco (California) Jacqueline CORLEY agreed to accept the cryptocurrency from the arrestee.

But the law enforcement officers immediately had a question: will the amount paid by the arrestee agree with the stated $750 thousand? Representatives of the American judicial system doubted if they would be able to enforce a pledge for the stated amount of money; and they replaced the cryptocurrency with the fiat money. But this happened after Maršić had emerged from jail.

And the police officers of the Surrey County managed not only to collect 125 bitcoins from the Latvian resident Sergey TERESKO, accused of drug dealing, but also to encash them for $1.5 million.  Moreover, at the time of the crime bitcoin cost $5000, and at the moment of the realization of the property - $12000. Even the fact the crypto trade is almost in the “gray area” in Great Britain did not confuse the court – the law enforcement officers legally took 18,8% of the money to the budget.

The following is significant here: where financial and legal authorities give up, criminal justice deals with a problem simply and clearly. There is the cryptocurrency, it has the value, and this value can be converted to fiat money. The fact that it was the motive of the crime, the vested interest or the asset of the criminals can be beneficial for the society. If there is nothing illegal in using the crypto, then it should be used, the criminal courts decide. And the regulators’ opinion is deeply secondary here.