Australia to sell £8m of seized bitcoins

Bitcoin Watch Shop

BitcoinsImage copyright
Reuters

A collection of bitcoins value about £8m, that had been confiscated by military in Australia, will be auctioned off in June.

The 24,518 bitcoins will be sole mostly in blocks of 2,000 – any with a value of about £680,000.

Ernst Young, a organisation organising a auction, pronounced a bitcoins had been “confiscated as deduction of crime” though did not elaborate on a case.

One consultant pronounced a authorities had selected a “safe” time to sell.

Australian newspapers have formerly reported that 24,500 bitcoins were seized by military in a state of Victoria in 2013, after a male was arrested for traffic bootleg drugs online.

In 2015, Victoria’s Asset Confiscation Operations dialect “confirmed it had recently taken possession of 24,500 coins and would try to make a many of it”, according to a Sydney Morning Herald.

‘Significant amount’

“This is a


Read more ... source:

Advertise on the Bitcoin News

Do you like The Bitcoin News ? Thank you for Support us !
BTC: 1FVCSiK2ErerjH1kBP4VLS5LqR3YzmVeXf
ETH: 0xa829E61Cc130b4f02fbfc9D7763361a550C7f824