The French government will sell the confiscated 611 BTC at the Kapandji Morhange auction

The French government will sell the confiscated 611 BTC at the Kapandji Morhange auction

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

Paris-based auction house Kapandji Morhange will auction 611 BTC on March 17. The company claims that this is the first auction to sell BTC confiscated by the French government. The current value of these bitcoins is about $34 million.

According to the information on the auction house’s website, two sales will be held on March 17: 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. In 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 Confiscated Assets (AGRASC) of France. According to Cyberguerre, most of the auctioned BTC were confiscated by the courts in connection with the attack
on the Gatehub cryptocurrency platform in 2019.

The Gatehub hacking trial is still ongoing, and the defendants have not been sentenced. If they are found not guilty, they will receive the proceeds from the sale of BTC. After the auction is completed, the proceeds from the sale will be transferred to the Caisse des Dépôts et Consignations account until the trial is completed.

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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