Finnish customs sells off $47 million in seized bitcoin

Finnish customs authorities have announced that they recently sold confiscated Bitcoin worth €46.5 million ($47.35 million).

Report informs, citing foreign media, that, according to a press release issued today, the 1,889.1 in Bitcoin was confiscated mostly in raids before 2018. The haul was seized during narcotics busts and transferred into state control via court rulings, but appears to have been subject to long deliberations over what to do with it.

A further 90 Bitcoin (worth around $2 million) remains in the agency’s possession, awaiting court rulings.

A spokesperson for the customs agency told Decrypt that, “As far as Finnish Customs is aware the sales revenue in total is going to be donated to Ukraine and the donation has already been approved by the Finnish Parliament within the second supplementary budget this summer.”