French government to sell confiscated 611 BTC at Kapandji Morhange

The French government will auction 611 BTC, which were confiscated from the hackers. The auction house Kapandji Morhange will hold two sales of 478 lots on March 17, worth 0.11 to 20 BTC.

Parisian auction house Kapandji Morhange will auction 611 BTC on March 17. The company says this is the first auction to sell BTC seized by the French government. The current value of these bitcoins is about $ 34 million.

According to the information on the website of the auction house, on March 17, there will be two sales: the first will start at 9:00, and the second at 14:00. The first sale will include 437 lots from 0.11 to 2 BTC. As part of the second part of the auction, 41 lots from 5 to 20 BTC will be sold.

Bitcoins were seized from hackers in 2019 and 2020 and are under the control of the Agency for the Return and Management of Seized and Forfeited Assets (AGRASC) of France. According to Cyberguerre, most of the BTCs put up for auction were confiscated by the courts in connection with the attack on the Gatehub cryptocurrency platform in 2019.

The Gatehub hack trial is still ongoing, and the defendants have not been sentenced. If they are found not guilty, they will receive proceeds from the sale of BTC. Upon completion of the auction, proceeds from the sale will be transferred to the account of the Caisse des Dépôts et Consignations pending the conclusion of the legal process.

Recall that last fall, the Romanian authorities held an auction of confiscated BTC and ETH, and a year ago, the auction house Wilsons Auctions sold confiscated bitcoins for $ 125,000.

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