Bitcoin Seized from Criminal Sells for Above-Market Prices

An auction in the UK featuring Bitcoin and other cryptocurrencies seized from a criminal earned police sales of above-market prices.

The cryptocurrency market has hit a dip over the last week, but that does not mean that enthusiasm for virtual currencies is waning. An example of continued interest in crypto took place at a recent police auction in the United Kingdom. Up for bid from Wilsons Auctions was 62 lots of Bitcoin and other cryptocurrencies seized from Elliott Gunton, a notorious hacker. The prices paid for Bitcoin exceeded the current market value for said cryptocurrency.

Gunton, the source of the auctioned cryptocurrencies, gained his funds through a number of illicit activities. He was found guilty of offering his hacking services, as well as providing stolen personal data, for cryptocurrency. He was also part of the TalkTalk hack in 2015 where the bank account info for 156,959 accounts was accessed, costing the company at least US$94.5 million. Read More...

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