Police in the U.K. raised almost $300,000 by auctioning off a convicted hacker's cryptocurrency haul, which included bitcoin, ripple and ether.
Police in the U.K. raised almost $300,000 by auctioning off a convicted hacker's cryptocurrency haul.
However, Wilsons Auctions, which orchestrated the sale, said a week before the auction that the cryptocurrency had a fluctuating value of up to £500,000. More than 7,500 bids were placed on the auction which was separated into 62 different sales, Wilsons Auctions said, with bids coming from various countries including Brazil, Australia, the U.S. and Singapore. It also noted that a single bitcoin achieved an average sale price of £6,798.80 — close to its current trading price.
"Asset recovery in a digital world has evolved, so it's really important that we have a clear process for the storage and sale of cryptocurrency," Detective Chief Inspector Martin Peters of the ERSOU cybercrime unit said in the press release.
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