Greek authorities have conducted their first-ever cryptocurrency seizure, confiscating 273,000 USDT during a criminal investigation in December. The operation, overseen by the Greek European Public Prosecutor’s Office, involved multiple law enforcement agencies, including the Digital Evidence Examination Department.
Greece's First Cryptocurrency Seizure
This case is part of the ongoing 'Admiral' operation, highlighting the challenges law enforcement faces in tackling crimes involving blockchain and cryptocurrencies. Digital assets are prized for their security and anonymity, but these traits also make them attractive for illicit activities like fraud and money laundering.
Ongoing 'Admiral' Operation
Experts emphasize the critical need for precision and expertise in managing seized cryptocurrencies, as errors could result in irreversible losses. Crypto-related scams are on the rise in Greece, with victims increasingly targeted by fraudulent schemes.
Managing Seized Cryptocurrencies
Authorities in Greece are working on strategies to manage confiscated cryptocurrencies, with plans to convert them into state funds, following practices adopted in other European countries. Earlier, in July, Greece has started taking significant steps towards adopting a tax framework for digital assets and cryptocurrencies, despite these assets not yet being officially recognized by the government.
These actions demonstrate Greece's serious intent to combat digital crime and create a regulatory environment for the cryptocurrency sector, which may also contribute to the national economy.
