Yesterday, a district court in St. Petersburg issued a permit to arrest a cryptocurrency stolen, according to investigators, from a citizen of the Russian Federation, a resident of the Northern capital, the joint press service of the city courts reported.
This is the first such decision and may become a precedent. Previously, courts in Russia did not impose interim measures on cryptocurrencies and there was no established practice to restrict the disposal of crypto assets by citizens of the Russian Federation.
“The court allowed the investigator to seize Ethereum contained in 24 wallets of the accused of stealing cryptocurrency,” the press service of the St. Petersburg courts reported.
According to the case, the victim bought 7,000 Ethereum coins for $56,000 back in 2017. At the current exchange rate, this is about 2 billion rubles, while in 2017 it was “only” 3.3 million.
The alleged perpetrator hacked into the wallet of a crypto billionaire and transferred the digital coins to himself. The victim turned to the police, where, on the basis of his appeal, a criminal case was initiated under two articles: on illegal access to computer information and theft on an especially large scale. As a result, the investigation found out that on the crypto wallets of the alleged swindler there are about four thousand ETH (more than a billion rubles), which the investigation demanded to arrest. The rest of the cryptocurrency, probably, the figurant has already managed to spend.
True, the widespread press release does not say exactly how the cryptocurrency was blocked. Whether a hot wallet was accessed, an exchange account was accessed, or a seed phrase was obtained from a suspect. In the interests of the investigation, this information is not disclosed.
According to the clarification of the court, the main difference between crypto-money and money is “only the way they arise, and since the concept of cryptocurrency is not enshrined in law, designating it as “other property” in the charge and petition for arrest is permissible.”
Source: ixbt
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
