Fancy Some XMR? Seized Monero Up for Sale in 24-Hour Online Auction
A Northern Irish auction house will sell seized Monero (XMR) digital tokens in what is believed as the first-ever auction of cryptocurrencies confiscated by a law enforcement agency.
Wilson Auctions—the largest independent auction firm in the United Kingdom—will put for sale in a 24-hour Timed-Online Auction a total of 167.7 XMR seized by British authorities.
Wilsons Auctions launches UK’s first seized cryptocurrency auction with an online timed auction starting at midday on Monday 7th January. For full details click the link > https://t.co/G5xgvO1nLd #cryptocurrency #monero #bitcoin pic.twitter.com/uocx05Be07
— Wilsons Auctions (@wilsonsauctions) January 4, 2019
The auction for the seized Monero tokens will be live online from midday today, January 7, to the same time tomorrow. The cryptos are divided equally into 10 lots, with the first one including access to storage of Monero-forked tokens, including Monero Classic (XMC) and Monero Original (XMO).
Aidan Larkin, head of Asset Recovery at Wilson Auctions, said of the auction:
“It is a very exciting time for Wilsons Auctions, having recently secured significant tender wins with Staffordshire Police, West Mercia Police and HMRC as well as being awarded at the TRI Awards, we are now launching into 2019 with our first timed-online cryptocurrency auction.”
Many consider this the first time in the world cryptos will be sold through an independent auction company.
It would not be the last for Wilson Auctions, however. Belgium’s Asset Management Office awarded the auction house a contract to help store and sell cryptos that will be seized by the Belgian authorities in the future.