Cryptocurrencies worth more than £500,000 ($600,000) that were seized in UK police operation are to be auctioned on Wednesday, September 25, according to an announcement by Ireland-based Wilsons Auctions.
The Auction house announced that it was the first instruction by a UK police force for the sale of crytocurrency seized from criminal activity. The cryptocurrencies – which include bitcoin, ethereum and XRP – will be split across two auctions.
The first auction will be run online over 24 hours from noon on Wednesday, September 25, while the second – split into 15 lots of bitcoin – will be open to online and physical bidders and will take place at 6pm on Wednesday.
Crypto Seized From Hacker
Wilsons Auctions said it was selling the cryptoassets on behalf of the Eastern Region Special Operations Unit, which seized the assets from a criminal who illegally sold online personal data and hacking services for the cryptocurrency.
Aidan Larkin, Director of Asset Recovery at Wilsons Auctions, said:
We are delighted to be marking another first at Wilsons Auctions by carrying out the first auction of bitcoin under the instruction of a UK police force. Following the success of our world-first public auction of bitcoin, which achieved global attention, we are excited to continue to roll out this secure service to both our public and private sector clients.
by Neil Dennis