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 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.