Saudi Press

Saudi Arabia and the world
Wednesday, Jul 23, 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

Saudi Press
0:00
0:00
Close
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
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.
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
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
×