Press "Enter" to skip to content

Bitcoin and Other Cryptocurrencies Put Up For Auction, Worth 500 Thousand Pounds

Coming as the latest development in the crypto sphere, United Kingdoms-based entity, Wilson Auctions carried out the first ever bidding for BTC. Interestingly, the auction got carried out for five hundred thousand pound sterling worth of seized virtual currencies and digital assets. It is to be noted that these cryptocurrencies were accumulated from illicit pursuits by law administering agencies.

The aforementioned crypto assets were subjugated from a cyber hacker. Intriguingly, the aforementioned hacker provided hacking services on the dark web in exchange for Bitcoin [BTC]. As per the reports, he also used to sell personal data belonging to the users on the black market.

Bitcoin Auction and Bitcoin Price Analysis

The crypto auction saw interest from numerous cryptocurrency enthusiasts and traders. Notably, this is one of the 1st instances where purloined digital assets and cryptocurrencies are being put up for sale publicly in an auction. However, this is not the 1st time BTC and other altcoins have been captured by law imposing authorities.

Earlier, the Irish auction house organised an auction for two and a half million pound sterling worth of BTC which was captured by the Belgian government at the outset of 2019. Interestingly, the auction house had then received bids worth a total of hundred million pound sterling.

At the time of reporting Bitcoin is changing hands at $7909 a pop with a market cap of around $142 Billion, as per CoinMarketCap. Bitcoin is having a 24-hour trading volume of $18.3 Billion and showing a loss of 5.76 percent on a 24-hour chart, according to CMC (Coinmarketcap).

Image by Alexas_Fotos from Pixabay