U.S. bailiff to auction bitcoin worth nearly $ 40 million

According to news from the official website, registered auctioneers will then bid to participate in the auction of 4,040 bitcoins, and auction participants must complete registration before February 12. The official press release stated that "the auction will be held within six hours on February 18. Only participants who have registered through pre-registration can bid via email."

Auction participants must also pay a deposit of $ 200,000 before bidding. Unsuccessful auction participants will be refunded after the auction ends.

The Bitcoins participating in the auction will be sold in four batches, each with 2,500, 1,000, 500 and 40.54069820 bitcoins. Each of the first three batches is divided into multiple targets, and each target has its own set number of Bitcoins.

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According to the official website, the bitcoin auctioned this month came from more than 50 administrative confiscations and legal cases.

The institution began auctioning bitcoin in 2014. The last auction was in November 2018. The institution raised more than $ 50 million through the auction of 660 bitcoins.

In October 2019, the British Police's Eastern Regional Special Operations Office (ERSOU) sold a variety of crypto assets including Bitcoin, Ripple and Ethereum through auctions, raising a total of more than 240,000 pounds ($ 295,150).

Martin Peters, chief inspector of ERSOU's cybercrime unit, said, "Asset recovery in the digital world is evolving. Therefore, it is important that we have a clear process for storing and selling cryptocurrencies."

That same month, Kronofogden, the Swedish law enforcement agency, also publicly auctioned 4.59 BTC, valued at approximately SEK 370,000.

Image source: Pixabay

By Liang CHE

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