UK Police Force Gets $665K Bitcoin Windfall From Seizures
Lancashire Police have received a $665,000 (£500,000) windfall after seizing Bitcoin from thieves. This case stems from a 2017 incident where stolen money was converted into Bitcoin. Due to the cryptocurrency's significant appreciation in value since then, the authorities were able to reimburse the victims in full under British law, which prevents overpayment. Consequently, the police retained a surplus that will go towards a special crime-fighting fund, which has previously financed community projects and law enforcement tools such as drones and spam call-blocking devices. Detective Sergeant David Wainwright noted that this case demonstrates the unexpected value recovery from seized assets and the impact it can have in preventing future crime activity.
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