French authorities to auction seized bitcoins worth $ 35 million

On March 17, the Agency for the Management and Return of Arrested and Confiscated Assets (AGRASC) of the Ministry of Justice of France will put up for auction $ 611 BTC with an approximate value of about $ 35 million, Cyberguerre reported .

According to the newspaper, 610 BTC were seized from suspects in the hacking of the British GateHub platform. In June 2019, attackers withdrew 23 million XRP from the service .

A few months later, the police charged two French hackers with the burglary. Law enforcement officers seized more than 189 BTC from Gabriel B., and about 90 BTC from his partner with the nickname Prosox. The relatives of the suspects gave law enforcement officers about 330 more coins belonging to the accused.

Since the consideration of the case has not yet been completed, legally the assets belong to the suspects, but the judicial authorities could have decided to sell them due to a possible price reduction, lawyer Renault Almeras explained to Cyberguerre.

If acquitted, the proceeds from the sale of the cryptocurrency will go to the accused, but if they are found guilty, the state will become the beneficiary. According to Almeras, then the victims of the hack GateHub users will be able to count on compensation.

However, the publication recalled that the value of the stolen XRP has remained virtually unchanged since the incident. In June 2019, the damage was about $ 9.6 million.At the time of writing, the stolen tokens are worth about $ 10.2 million.

The bitcoins seized from hackers by the authorities during this time have risen significantly, and even if compensation is paid, the state will receive a multimillion-dollar income.

Recall that this is not the largest amount of bitcoins sold by law enforcement officers through an auction. For example, in 2018, the US Federal Marshals Service put up 2,170.7 BTC for sale . 2100 coins were bought by one participant.

In 2020, the department sold more than 4040 BTC through tenders . The assets went to two winners.

An auction for the sale of 0.7501 BTC starts on March 15 . The asset was put up for auction by the US General Services Administration.

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