UK police auctions $600,000 worth of seized Bitcoins

According to a recent statement by the Wilson Auctions, there will be a major cryptocurrency auction on 25 September, during which customers will be able to purchase more than $600,000 in seized Bitcoins.

Aside from Bitcoins, authorities in the United Kingdom (UK) have also seized considerable amounts of ethereum and XRP

Because of the significant amount of cryptocurrency, Wilson Auctions has decided to split the auction over two days.

The first sale will be held online and will last twenty-four hours, starting on 25 September. After the online auction is completed, Wilson Auctions will hold a second stage. During this stage, bidders will be able to purchase one or more of the fifteen different Bitcoin slots. All slots will be available for purchase online, or at the physical auction house. 

Seized Bitcoin

According to information released by Wilson Auctions, the seized Bitcoins and other tokens belonged to a British hacker. Wilson was contacted by UK authorities, who seized the tokens from the hacker. In their official report, authorities detailed that the hacker was offering to sell personal information illegally, or hack software, and demanded payment in cryptocurrency.

This is not the first time when UK authorities have released seized Bitcoins and other cryptos for public auctions. 

In January 2019, Wilson Auctions participated in the first-ever public auction of seized cryptocurrency. This first auction was predominantly focused on offering about one hundred and sixty-seven (167.7) Moneros, which at the time were valued at eight thousand four hundred and seventy-two dollars ($8472.29).

In an official statement, Wilson Auctions expressed their gratitude to the UK police force to be given the opportunity to auction off these seized assets.