Swedish police seized $8.3 million in criminal proceeds using expanded asset forfeiture powers under a 2024 law targeting crypto-enabled crime. The confiscations stemmed from investigations into narcotics trafficking and fraud where cryptocurrencies facilitated money laundering. Authorities employed chain analysis to link pseudonymous wallets to identified suspects through transaction pattern analysis and exchange KYC leaks.
The 2024 legislation allows ‘pre-conviction freezing’ of crypto assets suspected of criminal links, reversing traditional burden-of-proof requirements. This enabled rapid intervention before funds could be moved to privacy tools. Most seizures involved Bitcoin and Monero holdings traced to darknet market operations and investment fraud schemes.
Sweden’s approach represents a broader EU trend toward aggressive crypto seizure frameworks. Critics warn about due process concerns, but proponents cite the $8.3 million recovery as evidence of effectiveness against increasingly sophisticated crypto money laundering. The funds are being converted to fiat for public treasury allocation.
