Wilsons Auctions announced that they were going to auction off half a million pounds (£500,000, $600,000) worth of cryptocurrencies that were seized from recently jailed hacker Elliot Gunton, a 19-year old British hacker from Norwich.
The Irish auction house is managing the auctions on behalf of the UK’s Eastern Region Special Operations Unit (ERSOU).
Law enforcement allegedly seized the stash from the hacker who had illicitly sold personal data and hacking services in exchange for thousands of pounds worth of cryptocurrency.
Other crypto assets to be auctioned include Ethereum (ETH), Ripple (XRP), and other altcoins. The crypto assets will be divided between two auctions to an international audience with lots starting from 0.25 to 2 Bitcoins. Altcoins will be auctioned off in bigger lots.
The first sale will be run online over 24 hours from noon on September 25 and the second – divided into 15 lots of Bitcoin – will take place at 6 pm GMT the following day. The highest bidder wins, and there is no reserve.
15 lots of Bitcoin will be included in the Unreserved Government Auction, taking place at 6 pm GMT on September 26. The second auction will include numerous high-value items from luxury watches and jewellery to designer goods and cars — all seized by law enforcement from hackers.
Wilsons Auctions is a leading asset
The Asset Recovery Department works with 17 nations globally realising assets from cryptocurrencies to luxury watches, designer goods, and cars.
