German auction attracted over 4,000 people willing to buy confiscated BTC
The German auction for the sale of cryptocurrency, previously confiscated by the police, has caused a wild stir among local investors who want to buy the maximum possible share of the Bitcoins exposed under it at a price below market value.
Together with the harp, the Porsche Cayenne, and other lots seized by law enforcement officers, the Ministry of Justice of North Rhine-Westphalia put up for sale Bitcoins for an “8-digit amount in euro equivalent”. After that, the number of participants in the auction skyrocketed by 4,000 people literally in the last few days before the start of the auction.
Most members of the crypto community are very surprised when they first hear about such sales from law enforcement agencies, wondering why they cannot simply “get rid” of digital currencies using exchanges. However, at the legislative level, they are prohibited from trading confiscated Bitcoins, as well as other property received after the arrest of criminals.
The lot of Bitcoins put up for auction, according to the police, was seized by cybercriminals during the investigation of cases related to cybercrimes carried out by "figures" of the darknet.
The main cryptocurrency on the market was sold in the format of rates ranging from 0.1 BTC to 10 BTC, starting at 42,400 euros or 49,280 dollars per coin. Soon, one of the bidders put up their offer at 56,210 euros (about 65,268 dollars), which looked at least strange at the current price of the crypto asset of 63,000 dollars on Binance.
One of the lowest rates for a lot with 1 BTC is now 52,610 euros or 61,081 dollars. At the same time, the most expensive lot with 10 BTC started at 503,500 euros (about 584,639 dollars) and reached 505,011 euros or 586,393 dollars. The auction is scheduled to be completed on October 27.
Recall that the German police still cannot hack the cryptocurrency wallet of an attacker who mined Bitcoin on users' devices without their knowledge. The criminal himself has already been released, but, apparently, does not know the key to the wallet, since he could not provide it to law enforcement officers. Therefore, the confiscated 1,700 BTC (more than 107 million dollars) can be “stuck” on it forever.
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