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Russian court approves Ethereum seizure for ₽1 billion

Russian court approves Ethereum seizure for ₽1 billion

In St. Petersburg, a Russian court allowed the seizure of stolen Ethereum cryptocurrency worth ₽1 billion. The reason was fraud committed by its owner.  

According to the consolidated press service of the St. Petersburg courts, the investigation asked to arrest 4 thousand ETHs, which are stored in 24 cryptocurrencies of the suspected fraudster. The presumed offender hacked into the victim's wallet and transferred 7,000 ETH, worth about ₽3.3 million.

The victim appealed to the police, where a criminal case was opened regarding unauthorized access to computer information and large-scale theft. During the proceedings, the court deemed to equate cryptocurrencies with assets and allowed investigators to seize the suspect's cryptocurrency wallets containing 4 thousand ETH. It is assumed that the attacker has already managed to spend or transfer the remaining 3 thousand ETHs. 

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