British Police to Auction $600,000 in Confiscated Bitcoin

The British police will be auctioning off half a million sterling ($621,400) worth of seized Bitcoin (BTC). This is according to a report by the London Economic on September 25th.

The funds were reportedly seized from a criminal who had offered his hacking services in exchange for Bitcoin and had illegally stolen and sold personal data.

The report says the sale represents the first time that forfeited cryptocurrency funds are sold on behalf of the United Kingdom authorities.

The police are also selling-off assets belonging to the criminal, including cars,  diamond jewelry and a luxury Rolex watch.

The auction will launch online today and go under the hammer tomorrow, September 26th. It will be managed by Ireland-based auction house Wilsons Auctions.

Wilsons Auctions had sold over $400,000 of seized Bitcoin and other cryptocurrencies on behalf of the Belgian government in March.