Germany to Auction Stolen 16 Bitcoin

• German authorities are set to auction bitcoin that was seized on the Darknet from cybercriminals

• The auction website is currently experiencing high traffic as over 4,000 new users have registered to purchase the cryptocurrency

• Over 16 BTC is set to be auctioned on the website, divided into 15 listings

The justice ministry of North Rhine-Westphalia in Germany has announced that there will be an auction for bitcoin seized in criminal cases.

The country is set to auction more than 16 BTC that was seized from cybercriminals on the Darknet.

Justiz Auktion, the auction website for the ministry disclosed on Monday that the website experienced high traffic following the listing of the coins.

According to Bloomberg, more than 4,000 users have signed up to the website in the past few days, trying to buy the seized coins.

According to a publication released by authorities, the majority of the coins were seized in cybercrime and drug trafficking cases.

Prosecutors are mandated to auction the coins like any other seized stolen goods rather than sell the cryptocurrencies on exchanges.

The auction website states that the coins are stored on official paper wallets at the Central and Contact Point Cybercrime North Rhine-Westphalia.

Read also: Tesla May Start Accepting Bitcoin Again

The winners of the auction will be handed the paper wallet and the keys for the coin personally.

However, if an electronic transfer to a bitcoin address is preferred, it will be done after identification and the buyer will incur the transaction cost.

The auction site currently has over 16 Bitcoin that are listed in 15 listings- One is for 10 BTC, three are for 1 BTC, six are for 0.5 BTC, and five are for 0.1 BTC.

Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending news, breaking news, entertainment news, and hot gist.