RATE Group | Global Law Enforcement Has Auctioned Massive Amounts of Bitcoin
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Global Law Enforcement Has Auctioned Massive Amounts of Bitcoin

03 Oct Global Law Enforcement Has Auctioned Massive Amounts of Bitcoin

Posted at 23:18h in Bitcoin News by

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Global Law Enforcement Has Auctioned Massive Amounts of Bitcoin

Last month, the U.K. police auctioned off roughly $300,000 worth of cryptocurrencies after they were confiscated by the country’s Eastern Region Special Operations Unit (ERSOU). Since 2014, law enforcement agencies worldwide have been auctioning large sums of bitcoin seized during investigations. For some reason, governments don’t want the digital assets used in crimes and entities like the U.S. Marshals have auctioned thousands of bitcoins. In contrast to the governments looking to unload confiscated digital assets, there have been many types of investors interested in bidding for seized coins.

Also read: Venezuela’s Central Bank Indicates Plans to Stockpile Bitcoin

US Marshals Have Sold Hundreds of Thousands of Confiscated BTC by Auction

After law enforcement agencies arrested Ross Ulbricht and took down the Silk Road, the U.S. government became one of the 10 largest bitcoin holders in 2013. When the Silk Road went offline, U.S. Marshals had a total…

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