Auction of seized bitcoins worth $13m

Bidders can register from tomorrow

An official says about $13 million in bitcoins will be auctioned in Sydney in June after Australian police confiscated the digital currency as proceeds of crime.

Ernst & Young transaction partner Adam Nikitins said on Tuesday that the accountancy firm is running the process, which is only the second such bitcoin auction in the world after the US Marshals Service sold 144,000 bitcoins over two years ending in 2015 that had been confiscated from Ross Ulbricht, who founded the online drug bazaar Silk Road.

Bidders can register from Wednesday until June 7 for the 24,518 bitcoins on offer. The 48-hour sealed auction will take place from June 20.

Based on Tuesday's bitcoin price of $533.80, the cryptocurrency is valued at almost $13.1 million.

 

Print
  • Twitter
  • submit to reddit
comments powered by Disqus

Videos

  • Diner serves up tarantula burger

    A woman faced her fear of spiders by eating a tarantual burger at a diner in North Carolina. The bizarre dish has

  • Elephant spotted smoking

    A group of conservationists spotted an elephant smoking large lumps of charcoal and claim it was for medicinal purposes

Most Popular in News

Follow
Emirates 24|7

In Case You Missed It ...

Happiness Meter Icon