Bitcoin worth up to $34 million are going to be up for auction soon. Both the French government and the government of the United States are about to host an auction from 15th March till 17th March, in which they will auction the concerning Bitcoins. The French government has announced that they are going to auction the BTC, which were seized from the hackers, while the government of the United States has not revealed from where they have acquired the BTC that they are going to auction off.
French Government to Auction BTC Seized from Hackers
Cyberguerre, a French publication, stated that the government of France is going to auction the crypto assets which they had retrieved from the hackers, who are accused of hacking the crypto asset trading service GateHub. Gatehub is a company based in London, and it was apparently hacked in the previous year.
According to the reports from Yahoo Finance, the Agency in France AGRASC, which is responsible for the Recovery and Management of Confiscated and Seized Assets, will be auctioning off the BTC seized from these hackers. The amount of the seized Bitcoins is about 611 BTC, and if we take into account the current prices of BTC, they are valued at about $34 million.
Also read:The venue at which this auction will take place is the Kapandji Morhange, which is an auction house based in Paris. The auction house will be auctioning off this BTC on 17th March 2021. Out of the total BTC being auctioned, around 610 of them are related to the seizure, which was done in the midst of an investigation after the GateHub cyber-attack. The most interesting thing in this whole scenario is that the alleged hackers who are being trialled for the GateHub hacking incident have not been sentenced yet. This means that if those hackers win the case and are cleared of all the charges against them, they may get all the monetary proceeds from the upcoming auction.
US Bitcoin Auction
The General Services of the US is going to auction 0.75 BTC, lot number 4KQSCI21105001. The bidding for this lot will remain open from 15th to 17th March 2021. This is similar to the auction done by the US in 2014 when Tim Draper acquired 30,000 BTC from the auction.
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