France to Auction 611 Bitcoins Seized From Hackers – Markets and Prices Bitcoin News
The French government will auction off 611 bitcoins seized by hackers next week. A total of two of the 478 lots will be sold. Each batch consists of 0.11 to 20 bitcoins.
Paris auction house Kapandji Morhange will auction the 17th. March to hold an auction of 611 Bitcoins. The company says this is the first auction of bitcoins seized by the French government. At its current price, this bitcoin is worth nearly $34 million.
According to the auction house’s website, there will be two sales, one at 9 a.m. and the other at 2 p.m. The first sale consists of 437 lots from 0.11 to two bitcoins. The second sale consists of 41 lots of five to 20 bitcoins.
In 2019 and 2020, bitcoins from hackers were seized by the French Agency for the Recovery and Management of Seized and Confiscated Assets (AGRASC).
Most of the bitcoins to be auctioned have been seized by the court due to an attack on the cryptocurrency platform Gatehub, local news agency Cyberguerre reported. The London-based cryptocurrency exchange was hacked in 2019 and the bitcoins were later seized by the hackers. The case is still pending and the defendant has not yet been convicted. If they are found innocent, they get the proceeds of the sale.
At the end of the auction, the proceeds of the sale will be transferred and deposited in the account of the Caisse des Dépôts et Consignations until the procedure is closed.
At the time of writing, the price of bitcoin was $55,271. According to market.Bitcoin.com, the price is up 20% this month, 55% since the beginning of February and 72% so far.
What do you think of this bitcoin auction in France? Let us know your comments in the section below.
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