Australian police to auction $13m in confiscated bitcoins https://www.theguardian.com/technology/2016/may/31/australian-police-to-auction-13m-in-confiscated-bitcoinsAbout $13m in bitcoins will be auctioned in Sydney in June after Victorian police confiscated the digital currency as proceeds of crime.
Ernst & Young is running the process, which is only the second such bitcoin auction in the world after the US Marshals Service sold 144,000 bitcoins over a two-year period that had been confiscated from Ross Ulbricht, who founded the online drug bazaar Silk Road, the accountancy firm’s transaction partner, Adam Nikitins, said.
Based on Tuesday’s single bitcoin price of $533.80, the cache of cryptocurrency is valued at almost $13.1m.
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