OM must return 585 bitcoins to suspect at sales value from 2014

The Public Prosecution Service must repay 585 bitcoins to a suspect, because it has not been established that the bitcoins were mined with tapped electricity. The Public Prosecution Service, which sold the bitcoins, must return the amount it collected in 2014.

The Court of Appeal in The Hague has ruled in an appeal that concerned a case in which a total of 712 bitcoins were seized in 2014. The court considers it proven that 127 of the bitcoins were mined with tapped electricity, but that cannot be proven of 585 bitcoins.

After confiscating the 712 bitcoins in February 2014, the Public Prosecution Service sold them all at the end of October that same year. At the time, this yielded 268.46 euros per bitcoin. According to the ruling, the Public Prosecution Service must return the 585 bitcoins to the suspect at the same value, a total of 157,179.55 euros.

The court finds it proven that the suspect mined bitcoins with equipment that was supplied with stolen power. When the equipment was seized, a bitcoin wallet with 127 bitcoins was found. After additional research six months later and synchronization with the bitcoin network, the wallet turned out to contain a total of 712 bitcoins. Those bitcoins were also seized and sold.

Since 2014, the bitcoin price has risen sharply. At the time of writing, one bitcoin is worth around $5750. The 585 bitcoins are therefore currently worth more than 3.3 million euros. The Public Prosecution Service seized the bitcoins on February 23, 2014, when a bitcoin was worth about 500 euros.

The suspect has also been convicted of possessing and growing cannabis. Together with those facts and for tapping power, the suspect is given a community service order of 108 hours and a suspended prison sentence of one month.