Key Takeaways
- Russia plans to sell $95 million worth of Bitcoin seized from Marat Tambiev.
- The Bitcoin, tied to the Infraud hacker group, was taken as bribes.
- Selling the entire 1,032 BTC could influence market dynamics.
Russian authorities are preparing to liquidate over 1,032 Bitcoin (BTC), valued at approximately $95 million, confiscated from Marat Tambiev, a former Moscow investigator convicted of accepting cryptocurrency bribes.
Criminal charges
Tambiev was found guilty in 2023 of taking 1,032 BTC as bribes from Infraud, a global hacking group, in exchange for shielding them from asset confiscation.
The Bitcoin, discovered on Tambiev’s computer and a Ledger Nano X wallet, was worth $28 million at the time of seizure but has since increased significantly in value.
Sentencing
In October 2023, the Nikulinsky Court of Moscow sentenced Tambiev to 16 years in a maximum-security penal colony, fined him 500 million rubles (around $5.2 million), and banned him from holding government positions for 12 years after his release.
Asset liquidation
The Russian treasury has begun transferring portions of the Bitcoin to state revenue, initially liquidating $10 million.
Legal hurdles have delayed the sale of the remaining assets, as the confiscated Bitcoin was split into smaller amounts requiring separate court approvals.
Authorities are also pursuing other property linked to Tambiev, including real estate, a motorcycle, and additional cryptocurrencies.
Market impact
Market observers caution that selling such a substantial amount of Bitcoin could impact the market.
A full liquidation of the 1,032 BTC stash might lead to short-term price volatility.
