Finnish Customs (aka Tulli), the customs service of the government of Finland, declared Thursday that it has sold “legally forfeited” bitcoins.
According to the customs service, bitcoins were seized “in connection with investigations into offences related to narcotics and doping substances.”
The coins were sold by two cryptocurrency brokers selected by Customs through a “competitive negotiated procedure” in late spring.
Approximately 90 bitcoins were still in possession of Finnish Customs “awaiting a valid forfeiture judgement.”
Tulli added that the company has also seized other cryptocurrencies. However, due to the ongoing investigation, “the currencies or their amounts cannot be disclosed in detail,” Finnish Customs said, adding they are worth “hundreds of thousands of euros at most.”
Finnish Finance Minister Annika Saarikko said in May that the proceeds from the sale of seized bitcoin will be used for the benefit of Ukraine, as Ukraine’s war with Russia lingers. Finland has sold 1,889 bitcoins seized in narcotic cases for €46.5 million ($47.4 million). She noted that the profits will go to Ukraine for charitable aid and reconstruction.
Pylkkänen told Bitcoin.com that the state has already received the proceeds from the bitcoin sale, noting: “Apparently it is going to Ukraine.”
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