TechFlow reported that for the first time, a Scottish court used the Proceeds of Crime Act to convert and seize Bitcoin into cash. John Ross Rennie, 29, was seized £110,000 by the court for his involvement in a violent cryptocurrency robbery in Blantyre in March 2020.
Rennie was identified as the "technical brains" of the case, providing the three robbers with technical support on how to transfer the Bitcoin.
At the High Court in Edinburgh, lawyers agreed to convert 23.5 bitcoins into £109,601 in cash.
Last November, Rennie was sentenced to 150 hours of unpaid work and a six-month supervision order. Details of the case showed that the victims were forced to transfer cryptocurrencies at knifepoint and one woman was attacked with a Toblerone chocolate bar. Scottish police said it was the country's first robbery involving the tracking of stolen cryptocurrencies.
