Wilsons Auctions to Sell Off $432M Worth of Bitcoins

By Anne W. | February 24, 2019
Wilsons Auctions to Sell Off $432M Worth of Bitcoins

Confiscated cryptocurrencies from online drugs dealers will be sold by bid with no reserve by the Ireland-based auction house Wilsons Auctions.

The bitcoins have been secured by the Belgium police after the incident of an illicit drug deal via the DarkNet, according to Wilsons Auctions. The total market value of the money, at the time, added up to around $432 million, with 104.99 Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin Gold (BTG) each.

In the press release, the official date for the bid is March 1, at 12 p.m (GMT), and the Bitcoins are sorted into small lots of 0.5-4 each while the BCH and BTG are offered in larger portions.

Similar cases have occured where Wilsons hosts auctions for seized digital assets from online crimes. For instance, last month, a 24-hour Timed-Online Auction of 167.7 monero (XMR) coins proved successful for the company first ever auction in the U.K.

The U.S. Marshals Service has also held a number of major crypto auctions, one of which was announced to trade off $4.3 million worth of bitcoins confiscated from federal criminal cases last year.

Tags: , , , ,