Sweden's Government Is Compelled to Refund a Drug Dealer $1.5 Million in Bitcoin

After the value of bitcoin skyrocketed while he was in prison, the Swedish authorities was compelled to refund almost $1.5 million to a drug dealer.

• According to a story published Friday in the UK daily The Telegraph, authorities in Sweden confiscated 36 bitcoins from the drug dealer, which were valued just under $150,000 at the time of his trial two years ago.

• When the Swedish Enforcement Authority arrived to auction off the bitcoin, its value had increased to the point where only three had to be sold to recover the initial amount.

• The authority now has to return the remaining 33 bitcoin to the drug dealer, which prosecutor Tove Kullberg called "unfortunate."

• “The lesson here is to maintain the value in bitcoin, and the benefit from the crime should be 36 bitcoin, regardless of the value of bitcoin at the time,” Kullberg added.

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