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Israel has announced that it will purchase 19.15 Bitcoin (BTC) and 83 Ethereum (ETH), worth over $2.2 million, but not for the reasons one might expect. Instead, the funds will be given back to Shai Siboni, a popular Israeli footballer who is also a known gambling offender.
According to reports, Siboni’s crypto wallet was “lost” while he was in police custody two years ago. Despite this oversight, Israel has decided to rectify the situation by purchasing a brand new digital wallet and funding it with the aforementioned BTC and ETH. This decision comes as a result of an elite police unit’s failure to investigate the incident properly.
Siboni’s profile is that of a major target in illegal gambling investigations. During the 2014 World Cup in Brazil and the 2018 World Cup in Russia, he operated illegal betting lines for thousands of gamblers, with suspicions suggesting his profits exceeded 100 million shekels. While it is true that the state had difficulty proving that the money came from criminal activity, the majority of Siboni’s property, including the crypto wallet, was still returned to him.
It remains unclear how the digital wallet disappeared during Siboni’s detention, but Israel’s decision to compensate him will undoubtedly have a significant impact on the cryptocurrency market.
Source: cryptopotato.com
