Chicago Suburb To Sell $10,000 in Bitcoins Seized From Criminals
Vernon Hills, Illinois, a Chicago suburb, will sell $10,000 worth of bitcoins that police seized from criminals, according to The Chicago Tribune. The bitcoins were seized during joint police investigations with federal authorities. Village trustees authorized Nikki Larson, the village finance director, to begin the process of selling the bitcoins. Police did not reveal details of the investigation. Bitcoins Swapped For Dollars. Since the village does not have use for the bitcoins, Larson recommended that the village accept its share of the confiscated bitcoins and convert them into U.S.....
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The U.S. has sold about 500 bitcoins seized back in 2018 for about $19.2 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. Federal authorities in the U.S. state of Ohio have sold bitcoins seized back in 2018 in a fraud case. The seized bitcoins were sold for nearly $19.23 million, Acting U.S. Attorney Bridget M. Brennan announced Thursday. The coins seized during the investigation were initially valued at approximately $2.88 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. The....
Finland’s customs officials have revealed plans to sell 1,981 bitcoins that were seized mainly in connection with drug trafficking-related criminal investigations. The majority of the confiscated bitcoins (1,666) are from the Douppikauppa case, the darknet operator who was arrested in 2016. To Sell or to Destroy the Coins According to a report by one Finnish broadcaster, the confiscated bitcoins had an estimated value of $800,000 at the time of the seizure. However, with bitcoin now trading above $38,000, Finnish Customs may well get over $75 million if the coins are sold at current....
Finland’s customs authority is looking for brokers to sell 1,981 bitcoins seized in drug cases. The coins are currently worth nearly $80 million. Finland’s customs authority announced Thursday that it is seeking brokers to sell 1,981 bitcoins seized in drug busts, Bloomberg reported, noting that the coins were forfeited to the state by court order. At the time of writing, the bitcoin stash is worth $78.75 million. Most of the seized coins were accumulated in raids before 2018. The Finnish State Treasury set out guidelines for handling crypto assets that year. It prohibited....
A small town located outside of Chicago is about to sell some bitcoins. The village of Vernon Hills, Illinois, is currently in possession of roughly $10,000 worth of the digital currency, according to The Chicago Tribune. That amount, seized last year during a criminal drug investigation by local police and federal agencies, is set to be sold off in the days ahead. Local officials approved a plan to use Coinbase to sell the confiscated coins during a town meeting on 24th January. While not as flashy as one of the US Marshals’ bitcoin auctions or the $19m worth sold in Australia last year,....
The French government will auction 611 bitcoins that were seized from hackers next week. There will be two sales comprised of 478 lots altogether. Each lot consists of between 0.11 and 20 bitcoins. Paris-based auction house Kapandji Morhange will auction 611 bitcoins on March 17. The company says this is the first auction of seized bitcoin by the French government. At the current price, this amount of bitcoin is worth almost $34 million. According to the auctioneer’s website, two sales will be conducted: one at 9 A.M. and the other at 2 P.M. The first sale consists of 437 lots of....