£500k of bitcoin seized from UK criminal to be auctioned, with no reserve!

Seized bitcoin will go under the hammer across two auctions...next week!

The first instruction by a UK police force for the sale of criminal’s seized bitcoin will be managed by Wilsons Auctions, with bitcoin and other cryptocurrencies being sold to the highest bidder with no reserve from 25th September.

The crypto assets, which have a fluctuating total value of up to £500,000, will be split across two auctions and will appeal to a wide global audience with Lots ranging from 0.25 to 2 bitcoins while other cryptocurrency will contain larger number of coins.

The Online Auction of Cryptocurrency will run for 24hrs from 12noon GMT on Wednesday 25th September and will begin to time out from 12 noon GMT on Thursday 26th September and will include a range of cryptocurrency including bitcoin, ethereum, ripple and more.

A further 15 Lots of bitcoin will be included in the Unreserved Government Auction which will take place at 6pm GMT on Thursday 26th September and will be available to both online and physical bidders. This auction will also include a number of high-value items from luxury watches and jewellery to designer goods and cars.

A leading advisory service for worldwide law enforcement agencies, Wilsons Auctions will manage the auction of the seized cryptocurrency on behalf of the Eastern Region Special Operations Unit (ERSOU) having been seized from a criminal who illegally supplied online personal data and hacking services in exchange for thousands of pounds worth of cryptocurrency.

Wilsons Auctions made history back in March 2019, successfully managing the first public auction of bitcoin cryptocurrency by a private auction company. The world-first saw 315 seized bitcoin sold with bidders participating from over 90 countries world-wide. The auction was the result of a significant contract with the Federal Government of Belgium in which Wilsons Auctions will manage the storage and sale of seized crypto assets.

Speaking ahead of the auction Wilsons Auctions’ Asset Recovery Director Aidan Larkin said, “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.

“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.

Wilsons Auctions is a leading auction company with over 80 years of experience managing the disposal of an extensive variety of assets. The Asset Recovery Department works with 17 countries worldwide realising assets from cryptocurrencies to supercars, luxury watches and designer goods and in recent years has realised over £100 million worth of seized assets for government agencies, law enforcement agencies and insolvency practitioners.

For full details click here for the Online Auction of Cryptocurrency and the Unreserved Government Auction or to keep up to date on any future cryptocurrency auctions follow us on Facebook @wilsonsauctionsltd or go to @wilsonsauctions on Twitter and Instagram.

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