First NFTs Seize In the Netherlands As Dutch Police Found Crypto Assets And NFTs In Investigation

Netherlands Police seized NFTs and cryptocurrency while conducting an investigation into illegal data sales this week, a first for it.

Dutch Police Seizes Crypto and NFTs

As per the statement from the country’s law enforcement dated March 30, Dutch Police have seized crypto assets and NFTs.

The seizure is part of an ongoing investigation probing the illegal trade of private data, reads the article.

This week, two male suspects aged 23 and 19 years were arrested because they are the suspects who held private data for doing frauds and scams. Police revealed that they had found “a large amount of data” and found out that the team had been operating for years.

However, the Dutch police haven’t yet revealed the exact amount they have seized. But, according to the latest figures, the Dutch Police have seized €35 million ($39 million) in cryptocurrencies last year.

Police also didn’t reveal the number of NFTs that were seized or their market value; rather, they have noted that NFTs are often valued high and, in some cases, even worth millions of euros.

Crypto Seizures Are A Common Thing

Further, Police added that it is the first time that NFTs have been seized by a Dutch investigative service.

However, it is not the first time that such a seizure has happened this year, the U.K. made its first seizure of NFTs in a $1.9 million tax fraud case.

However, be it the Netherlands or any other country around, cryptocurrencies seizures are a common thing. The authorities in the U.S. seized $3.6 billion of Bitcoin in relation to the Bitfinex hack. $667,000 of crypto in connection to the Silk Road was seized by the U.K. in November.

Last year, more than $14 trillion of cryptocurrencies and $23 billion of NFTs were circulated. When trading volumes increases, law enforcement will likely monitor the assets even more closely.