Confiscated Bitcoins to be put up for action in Australia
Melisande Mual
30 May 2016 / 5 Min Read
The amount worth around AUD 16 million (USD 11.49 million) will be auctioned in Sydney but auction is not limited to Australian nationals. The sale will take place on June 20-21 and involves 24,518 coins.
Ernst and Young said the Bitcoin was “confiscated as proceeds of crime” but declined to identify its client. Local news reports have previously said that the Bitcoin was confiscated from an Australian man convicted of commercial drug trafficking in 2014. The company expects interest from asset investment managers, currency exchanges, investment banks and hedge funds in North America and Europe, according to reuters.com.
A spokesperson for the department of justice in Victoria state declined to comment, citing commercial considerations.
Melisande Mual
30 May 2016 / 5 Min Read
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