Police are Auctioning off £500,000 Worth of Criminally-Seized Bitcoin

By Shabana Arif on at

Irish auction house Wilsons Auctions will shortly be flogging half a million pounds worth of Bitcoin across two auctions this week.

The cryptocurrency was seized from a criminal who made their fortune from illegally selling "personal data and hacking services" and is being auctioned off on behalf of the Eastern Region Special Operations Unit (ERSOU).

“We are delighted to be marking another first at Wilsons Auctions by carrying out the first auction of bitcoin under the instruction of a UK police force," said Wilsons Auctions’ asset recovery director, Aidan Larkin. "Following the success of our world-first public auction of bitcoin, which achieved global attention, we are excited to continue to roll out this secure service to both our public and private sector clients.

"Being able to offer this secure solution to clients and remove the risks that can be associated with trading with unregulated virtual currency exchanges has been a welcome addition to our award winning auction service as well as giving new and experienced investors the opportunity to buy cryptocurrencies from an established auction house," he added.

The auctions are set for Wednesday and Thursday this week, and kick odd at midday. Lots will range from 0.25 to 2 bitcoins "while other cryptocurrency will contain larger number of coins."

So if you fancy your chances at grabbing yourself come Bitcoin, this week might be your lucky week. [The Next Web]