• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Bitcoin auction Germany

German Authorities Auction Over 200 Bitcoin Seized From Cybercriminals

Tolu Okuwoga
by Tolu Okuwoga
3 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Authorities in Germany announced the auction of Bitcoin starting Monday, October 25. The Ministry of Justice of North Rhine-Westphalia set up a public auction for Bitcoin that the police seized from cybercriminals. Over 200 Bitcoin was up for grabs in a two-day sale.

Related Reading | Ireland to See First Public Auction of Seized Crypto Assets

The western German state runs the only central online auction portal in Germany’s justice system. And it regularly puts up various types of seized goods for auction. Although auctioning off confiscated crypto is normal, the announcement of this Bitcoin auction spurred a frenzy in Germany. Approximately 4,000 new users registered on the auction platform in the last few days.

The Ministry of Justice said they must treat the crypto the same way as other seized goods – by auctioning them.

The Justice Ministry Announces Auction

There was a frenzy on Twitter last week when the Ministry of Justice announced that it would auction off confiscated Bitcoin. The seized crypto is worth tens of millions of euros. The Ministry did not expect the number of responses they got, according to a local report.

“We expected a lot of interest, but that is beyond our imagination,” says press spokeswoman Hilal Tanrisever.

The hype, however, is understandable. Just last week, the digital currency reached an all-time high a day after the first bitcoin-futures ETF launched in the U.S. Many investors expect the value to rise well above $100,000 by the end of the year.

Related Reading | ETF approval drives Bitcoin towards all-time high at $65K – Crypto Weekly Roundup, October 18, 2021

The use of cryptocurrencies in cybercrimes has been increasing. The Bitcoin put up for auction was seized in connection with criminal offenses over the encrypted Darknet. The law enforcement authorities reportedly seized the Bitcoin over several years.
“Each euro that’s extracted from criminal networks helps weakens them,” the Justice Ministry said on Twitter.

According to Peter Biesenbach, Managing Minister of Justice North Rhine-Westphalia, cryptocurrencies are not only popular with legitimate users but “unfortunately also with criminals.”

He also says that cryptocurrencies are “the dream of every cybercriminal.”

Bitcoin Auction

The North Rhine-Westphalia Justice Ministry broadcasted the auction on Twitter and Youtube.

The government auctioned the Bitcoin on its auction website. In total, the 215 Bitcoin has a current value of about $13 million, and the proceeds will go to the state treasury. When he started the countdown to the auction, Biesenbach stated: “The Finance Minister is keeping his fingers crossed for us.”

BTCUSD Chart on TradingView.com

BTC trading at over $62K | Source: BTCUSD on TradingView.com

The minimum bid was set at 42,400 euros ($49,197), below Bitcoin’s current price. However, the first bidder offered 56,060 euros ($65,010).

The prosecutors could only guess why the bidders were placing their bids above the market value. “Perhaps because you know that you will get the goods from us,” said a judge spokeswoman.

Featured image from CNBC, Chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Tolu Okuwoga

Tolu Okuwoga

Follow

Full Profile

Related Posts

cours-or-nouveau-record-chute-btc

Record de l’or et chute du Bitcoin : que se passe-t-il ?

22 hours ago
Metaplanet

Metaplanet Pushes Bitcoin Holdings Over $2 Billion With New Purchase

1 day ago
Bitcoin

Bitcoin Mining Can’t Keep Up: Companies Buying At Quadruple Pace – Report

1 day ago
Bitcoin

Bitcoin Treasury Race Heats Up As Dutch Firm Shoots For $23-M Launch

2 days ago
Bitcoin

Unexpected Bitcoin Player: Japanese Nail Salon Targets $3-B In BTC Holdings

3 days ago
Bitcoin

Bitcoin Fortress: El Salvador Shields $678-M From Quantum Threat

3 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • AlloyX Merges with Solowin Holdings at $350 Million...

    2 hours ago
  • WinnerMining

    “Trump-Backed WLFI Booms — WinnerMining Cloud Mining...

    3 hours ago
  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    18 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    18 hours ago
  • From Institutional to Individual Investors: How XRP and...

    18 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.