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Romanian Government Set To Auction Off Bitcoin And Ether Confiscated During Fraud Case
Summary: Romania’s National Agency for the Management of Seized Assets (ANABI) will begin auctioning off Bitcoin and Ether confiscated during an undisclosed fraud case, according to a recent announcement. The starting price for 0.97 ETH is 1670 Romanian Lei or $401. For 0.6 BTC, 30,535 lei or $7,347. ANABI required the winner to provide addresses associated with ...
Romania’s National Agency for the Management of Seized Assets (ANABI) will begin auctioning off Bitcoin and Ether confiscated during an undisclosed fraud case, according to a recent announcement.
The starting price for 0.97 ETH is 1670 Romanian Lei or $401. For 0.6 BTC, 30,535 lei or $7,347. ANABI required the winner to provide addresses associated with cryptocurrency exchanges in compliance with know-your-customer laws in the country.
This will not be the first time confiscated cryptocurrency is auctioned off. In 2017 Ernst and Young auctioned off 24,518 BTC taken by the Australian police. In 2018, Bulgarian law officials took nearly 213,000 BTC obtained illegally and also auctioned them.
The U.S. government is also known to auction confiscated crypto, even receiving pushback in 2020 after it was revealed that the U.S. Marshals Service auctioned 4,041.58424932 Bitcoin for $38 million in February when at that time the coin was still valued at below $9.2k.
By Emily Mason
Tags: Auction,Cryptocurrency Auction,Romania
Link: Romanian Government Set To Auction Off Bitcoin And Ether Confiscated During Fraud Case [Copy]
