Scottish Authorities Convert Stolen Bitcoin to Cash After Unique Robbery

Scottish law enforcement has successfully converted 23.5 Bitcoin into cash, following a robbery in March 2020.

In this unusual case, three men armed with a machete and a Toblerone bar broke into a home near Glasgow, marking Scotland’s first instance of stolen cryptocurrency being traced and seized.

Detective Inspector Craig Potter from Police Scotland’s Cyber Investigations unit noted this case as groundbreaking for Scotland.

The Bitcoin, which was converted into approximately $144,000 (or £109,600), had a value significantly lower at the time of the theft, around $5,400 per Bitcoin.

The incident took place in Blantyre, where the attackers used the Toblerone bar in their assault and forced the victim to transfer Bitcoin.

Following the seizure, John Ross Rennie, convicted for possessing the stolen Bitcoin, was identified as a key figure in the crime. Although Rennie claimed coercion, the court deemed his role critical and sentenced him to community service and supervision.