Online auction will see over €110,000 worth of bitcoin going under the hammer with no reserve, hosted by Wilsons Auctions Dublin from 24th March.
Wilsons Auctions, Ireland and the UK’s largest independent auction company, will host Ireland’s first public auction of seized cryptocurrency managed by its Dublin branch on behalf of the Belgian Federal Government on Tuesday 24th March.
The crypto assets, which have a fluctuating total value of over €110,000, will be split across Lots ranging from 0.25 to 1 bitcoin while other cryptocurrency will contain larger number of coins including Bitcoin Cash and Bitcoin Gold.
The Online Auction of Cryptocurrency will run for 24hrs from 12noon GMT on Tuesday 24th March and will begin to time out from 12 noon GMT on Wednesday 25th March.
A leading advisory service for worldwide law enforcement agencies, Wilsons Auctions made history last year as a result of its significant contract with the Federal Government of Belgium. Having secured the contract to manage the storage and sale of seized crypto assets, Wilsons Auctions successfully managed the first public auction of bitcoin cryptocurrency by a private auction company through its head office in Belfast. The world-first saw 315 seized bitcoin sold with bidders participating from over 90 countries world-wide.
Speaking ahead of the auction, Asset Recovery Executive at Wilsons Auctions, Mark Woods said, “Wilsons Auctions is delighted to be holding its next auction of seized bitcoin, even more so because this will be the first of its kind in Ireland. The format has proven popular with our customers, who are able to bid online and purchase cryptocurrency from an established and trusted auction house instead of utilising online exchanges, which can be a risky and daunting process. We offer guidance throughout the process which means that both newcomers to the world of cryptocurrency and experienced investors can all participate on a level playing field.”
Wilsons Auctions’ Asset Recovery Director Aidan Larkin said, “Our Asset Recovery work has resulted in requests for assistance from various law enforcement agencies, government agencies and insolvency practitioners around the world asking for our help managing seized assets, with cryptocurrencies being one of the most prevalent due to the complex requirements of securing it.
“It is good to see that forward-thinking governments are taking proactive action to ensure the hard work in fighting crime is rewarded by implementing an effective asset recovery strategy with the assistance of Wilsons Auctions. Working with a network of international experts in this field ensures we can collaborate and innovate, allowing us to remain at the forefront of this exciting category of assets,” he concluded.
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.
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