September 24, 2019, | AtoZ Markets – UK police will be auctioning $600,000 worth Bitcoin on Wednesday, September 25. So, if you are in the UK and looking for a possible under-priced bitcoin, perhaps it would be your day!
During the UK Police Bitcoin auction customers will be able to purchase seized Bitcoins. Aside from Bitcoins, authorities in the United Kingdom (UK) have also seized considerable amounts of Ethereum and XRP which is to be auctioned too.
Wilson Auctions Bitcoin worth $600000
As there is a huge number of cryptocurrency for sale, Wilson Auctions has decided to split the auction over two days. The first sale will be held online and will last 24 hours. The sale is going to take place on 25 September.
After the online auction is completed, Wilson Auctions will plan for a second stage. During this stage, bidders will be able to purchase one or more of the 15 different Bitcoin slots. All slots will be available for purchase online, or at the physical auction house.
According to information released by Wilson Auctions, the seized Bitcoins and other tokens belong to a British hacker. Wilson was contacted by UK authorities, who seized the tokens from the hacker. In the official report, authorities have detailed that the hacker was offering to sell personal information illegally and demanded payments in the form of cryptocurrency.
Aidan Larkin, Director of Asset Recovery at Wilsons Auctions, said that:
“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.”
UK police seized cryptocurrencies before
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. The auction was focused on offering about 167.7 Monero coin, which at the time were valued at $8472.
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.