In the course of criminal investigations against criminal groups engaged in money laundering, the police of the British County of Surrey confiscated and then sold 295 bitcoin. This is stated in the official message of Department. Financial Times.

Breaking #Bitcoin Bonanza ⚠

In a UK policing first, we have seized, converted and retained £1.2 m in the #cryptocurrency from a drug dealer who tried hiding illegal assets. Want to know more? 👉

— Surrey Police (@SurreyPolice) 19 July 2018

Bitcoins were seized in October last year as a result of a RAID at a house in Cobham, where he lived for 31-year-old citizen of Latvia Sergejs Teresko. Cryptocurrency was discovered at hardware wallet KeepKey.

In addition, during the search it was discovered a £263 000 cash, a few designer watches and jewelry. He Teresko, which officially did not work, moved on the expensive Range Rover Evoque. The house where the detainee lived, was equipped in a full-scale plant for the cultivation of marijuana.

After a meeting held shortly after the arrest of the court, the police sell confiscated bitcoins after receiving the private key from a wallet, police transferred cryptocurrency created to suit your needs wallet and implemented it on one of the foreign exchanges. The result of the sale, the police rescued £1,246,279.33.

Last Thursday, the court of Surrey confirmed that the police were entitled not only to withdraw, but then to sell bitcoins. While 18.8 per cent resulting from the sale means the police can keep their own operating costs.

At the time of the arrest Teresko and sell bitcoins course is the first cryptocurrency was about $5000.

As noted by the police of Surrey, this is the first case of seizure and sale of bitcoins in the UK. The detainee Latvian was sentenced to 9 years and 3 months imprisonment.

We will remind, earlier this month, the Chinese police seized the organizers of the underground football betting $1.4 million in bitcoins.