French Government to Auction $34 Million Worth of Bitcoin This Week

March 16th news, according to foreign media reports, this week, the Paris-based auction company Kapandji Morhange will host the auction of 611 bitcoins on behalf of a French government agency .

According to Kapandji Morhange’s website, the auction is scheduled to begin at 9 a.m. on Wednesday, March 17, with another at 2 p.m., with a total of 437 lots ranging from 0.11 BTC to 2 BTC. At current prices, this amount is about $34.2 million.

It is reported that these bitcoins were seized from hackers by the French Agency for the Recovery and Management of Confiscated Assets (AGRASC) in 2019 and 2020. The vast majority of funds came from the hacker attack on the trading service website GateHub in 2019. At that time, the funds were stolen in the form of the digital asset XRP and later converted into Bitcoin.