The Russian government has made a decision to transfer and sell confiscated Bitcoin (BTC) amounting to 94,744 to the state treasury. This move appears to be influenced by practices in the United States. Recently, a court ruled that Bitcoin worth 1 billion rubles (approximately 9.79 million dollars) would be transferred to the state treasury. The confiscated BTC is linked to Marat Tambiev, a former researcher who was accused of bribery.
The case involving Marat Tambiev is considered one of the biggest bribery scandals in Russian history. Tambiev admitted his guilt in 2023 and was sentenced to 16 years in prison. The court revealed that Tambiev received nearly 10 million dollars in Bitcoin as a bribe from the infamous hacker group, Infraud Organization. This amount is recorded as the largest cryptocurrency bribe ever acquired in Russia.
According to the TASS news agency, Tambiev accepted bribes in exchange for dropping criminal cases against Infraud members and concealing cryptocurrency worth 14 billion rubles (13.6 million dollars). The confiscated BTC, acquired in December 2024, is currently stored in a Ledger hardware wallet. Authorities have stated that Tambiev used this money to halt investigations into criminal organizations.
Russia is preparing to sell the Bitcoin that was transferred from Tambiev’s hardware wallet to the state treasury. A total of 1,032 BTC (approximately 1 billion rubles or 10 million dollars) is planned for sale. This decision follows the recent move by the United States to sell 6.9 billion dollars’ worth of Bitcoin related to the Silk Road case.
Sales of this nature in the cryptocurrency market often raise concerns about increased volatility. However, experts predict that the market will easily absorb these sales. Russia’s decision to sell Bitcoin is closely monitored in terms of international cryptocurrency policies. This development indicates that Russia is continuing its process of integrating cryptocurrencies into its state finances. Furthermore, it signifies a period where governments are evaluating cryptocurrencies as financial assets.
