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Home » Blog » Russia to Auction $10M in Bitcoin Seized in Hack Case
Blockchain News / Crypto News

Russia to Auction $10M in Bitcoin Seized in Hack Case

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Last updated: 10/01/2025 10:07 PM
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10 months ago
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Russia to Auction $10M in Bitcoin Seized in Hack Case
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Russian Officials Preparing to Auction Seized Bitcoin from Cybercrime Case

Reports have emerged that Russian officials are considering selling a significant bitcoin haul they confiscated during the investigation of an international hacking group operating from 2010 to 2018. Local sources say the government will first dispose of $10 million in BTC and later sell over 1,000 BTC worth almost $100m.

Contents
  • Russian Officials Preparing to Auction Seized Bitcoin from Cybercrime Case
  • Bitcoin Confiscated from Infraud Hackers
  • Impacts on Global Bitcoin Liquidation

Bitcoin Confiscated from Infraud Hackers

These bitcoins were acquired after probing Infraud, a notorious hacker syndicate involved in worldwide credit card scams. In total, 5,212 BTC were seized as part of the operation. However, there was controversy around the case when Major Marat Tambiev who was at the forefront allegedly made a deal with hackers. He is said to have asked for fifty percent of the bitcoin taken away in exchange for favorable treatment including non-custodial sentences among other considerations such as house arrests.

Bitcoin Confiscated from Infraud Hackers

On April 7th, 2022, Tambiev reportedly obtained one thousand and thirty-two bitcoins before he later got arrested alongside his assistant, Kristina Lyakhovenko. Both faced legal repercussions: Tambiev was sentenced to 16 years in maximum security prison and fined over $5 million while Lyakhovenko received a nine-year sentence for falsifying evidence.

In 2023 on his office computer’s folder labeled “retirement”, law enforcement stumbled upon Tambiev’s Bitcoin holdings’ private keys.

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The Treasury of Russia is in charge of these funds, which are in the process of being liquidated. Tambiev allegedly split the dirty cash into smaller purses and even transferred some to his relatives. The Russian prosecutor has made multiple applications to court requesting access to these distributed assets and has started legal proceedings against Tambiev and one of his uncles.

Some of these assets have been sold by the government with the first sale being approved by a court order. Other properties belonging to Tambiev including real estate and vehicles are also expected to go under the hammer.

Impacts on Global Bitcoin Liquidation

This case is similar to recent happenings in America where Justice Department got an approval for selling up to 69000 Bitcoins worth about $6.5 billion that were ceased from Silk Road market place. Opposite voices like former President Donald Trump who suggested having strategic Bitcoin reserve did not block US’ course in its plan for liquidation.

Therefore, Russian MPs have suggested setting up a national Bitcoin stockpile, which makes sense given that Vladimir Putin publicly endorsed Bitcoin at an investment conference held in Moscow.

Impacts on Global Bitcoin Liquidation

The government’s forthcoming sale of Tambiev’s ill-gotten Bitcoin could affect the worldwide cryptocurrency market and is likely to add to debates about Bitcoin’s place in national economies.

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These unfolding events show how hard it is to manage seized cryptos and their impact on markets. It remains unclear if these liquidations will greatly impact the value of Bitcoin but they show that governments are increasingly engaging with cryptocurrencies.

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