Ernst & Young to Auction 24,000 Confiscated Bitcoins in Australia
One of the “Big Four” audit firms the multinational financial management service Ernst & Young (EY) is auctioning $16 million worth of bitcoin next month in Sydney, Australia. The 24,518 bitcoins seized by special agencies will make for the country’s first cryptocurrency auction of this magnitude — much like the U.S. Marshals Silk Road auctions in....
Related News
Ernst & Young is one of the most respected companies active in the financial sector today. Despite their interest in blockchain technology, the company is also selling US$16m worth of confiscated Bitcoin next month. A Huge Bitcoin Auction By Ernst & Young. The bitcoins in question were seized last year as part of an investigation into criminal activity over the Internet. There will be 11 lots of 2,000 coins each, and one big lot of 2,518 BTC. This seems to follow the same trend of how the Silk Road bitcoins were sold last year. It will be interesting to see who decides to bid on these lots....
An auction in Sydney will put up over $13 million ($18 million AUD) in bitcoin for auction next month. The bitcoins were confiscated as “the proceeds of crime”, announced global services firm Ernst & Young, referring to the now-defunct online dark market, Silk Road. Ernst & Young Australia will hold an international auction for 24,518 bitcoins (approx. $13.03 million at the time of publishing) confiscated from an Australian national involved in drug market Silk Road. The bitcoins were seized last year following the sentencing of Melbourne native Richard Pollard. Arrested in late....
Global professional services firm Ernst & Young has announced it will auction off 24,518 BTC (worth $12.9m) originally confiscated by a user of defunct online dark market Silk Road. The sale will represent the end of a process that began in late 2014 when law enforcement officials confiscated the bitcoins from Richard Pollard, a Warrandyte native who was later sentenced to 11 years in prison for commercial drug trafficking. Ernst & Young said in a statement today that the auction will be held over a 48-hour period beginning at 12.01am AEST on 20th June 2016. As previous auctions....
Financial services firm Ernst and Young has announced it has successfully auctioned off 24,518 Bitcoins at a closed international auction which ended on June 21. The auction was the first of its kind in Australia and the second ever globally. Bidders were made to deposit $250,000 as well as meet other financial requirements to bid for the available 11 lots of 2,000 Bitcoins and one lot of 2,518 Bitcoins. Going by its current rate (1 BTC = $634), the auctioned 24,518 Bitcoins are worth about US$16 million. The Bitcoins are the proceeds of crime as part of the civil forfeiture connected to....
Ernst & Young revealed today that it has successfully auctioned off 24,518 bitcoins worth around A$22 million ($16 million) as part of a scheduled auction after the Australian government confiscated the bitcoins from a Silk Road user. Financial services firm Ernst & Young oversaw the closed international auction, which was open to bidders from 20 June and ended 21 June, who supplied a deposit amounting to A$338,698 ($250,000) in addition to meeting other financial requirements. The price paid by the bidders and the number of bidders involved were not disclosed by E&Y; however,....