Home » UK Police to Auction Criminally-Seized Bitcoin Worth of $662,000

UK Police to Auction Criminally-Seized Bitcoin Worth of $662,000

British police are set to launch an auction of £500,000 ($662,000) worth of seized Bitcoin this week, the London Economic reported today.
news - UK Police to Auction Criminally-Seized Bitcoin Worth of $662,000

British police are set to launch an auction of £500,000 ($662,000) worth of seized Bitcoin this week, the London Economic reported today. 

The auction, managed by Ireland-based auction house Wilsons Auctions, was started online today and go under the hammer tomorrow, Sept. 26. Thursday’s lots will include other seized items such as cars, jewelry, luxury watches, as well as other items.

The funds were  seized from a criminal who had illegally sold personal data and provided hacking services in exchange for Bitcoin, Ethereum, Ripple (XRP), and other unnamed tokens.

It’s the first case when the United Kingdom authorities sell stolen cryptocurrency funds. US police have been launching auctions for the sale of confiscated cryptocurrencies since 2014, following the dismantling of Silk Road, the infamous online drug marketplace. 

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