Ireland's Wilsons Auctions to Pawn Off 315 Bitcoins That Were Seized in Dark Net Drug Case

As per a recent news piece published by a respected media outlet, Irish auction house ‘Wilsons’ is going to be selling a total of 315 crypto-coins that were confiscated by the Belgian government in relation to a drug trafficking incident that took place a couple of years ago.

To be a bit more specific, we can see that the auction will be held online and will go on for a period of 24 hours (starting Feb. 28.)

A More Detailed Look at the Matter

According to a statement released by Wilsons, the entire amount will be sold to interested customers in lots ranging from 0.5 BTC to 4 BTC each. Additionally, it is also worth noting that the aforementioned stack of coins comprises of:

  • 104.99 bitcoin core
  • 104.99 bitcoin cash
  • 104.99 bitcoin gold.

For those of our readers who may not be aware, Wilsons won the aforementioned contract from the Belgian government to carry out the auction. As part of the deal, the storage and sale of the seized crypto assets will be administered solely by the Federal Government of Belgium.

Talking about the upcoming crypto auction at Wilsons, the firm’s head of recovery, Aidan Larkin was quoted as saying:

“Following huge investment into our systems and infrastructure, we are able to offer government and law enforcement agencies worldwide a secure solution to the ever-increasing problem of seized cryptocurrencies.”

Larkin then went on to add the following:

“This contract allows us to further expand our cryptocurrency offering and remove the risks that can be associated with trading with unregulated virtual currency exchanges.”

Other Key Facts Worth Bearing in Mind

  • The Mallusk-based auction house will reportedly be selling a small amount of BTC during an unreserved government auction— an event that will also take on the 28th of this month (in Belfast).
  • During a late-2017 raid, the Belgian police allegedly seized a total of 1,050 BTC from various drug dealers operating within the country.

In a related case, Canadian authorities also recently apprehended a well known drug-dealer (Matthew Phan) who is now pleading to the country’s judicial system to retain half of his 288 BTC that were seized during a sting-operation.

His argument is grounded on the premise that only half of his digital holdings were used to facilitate illegal purchases.

Final Take

In closing out this piece, it is worth mentioning that Wilsons Auction house was founded all the way back in 1936. As per the company’s website, it offers interested clients with a wide array of services ranging from the

“collection, storage, valuation, marketing, refurbishment, auction and distribution of assets such as cars,commercial goods, real estate and even cryptocurrencies”.

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Avatar
Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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