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German law enforcers will auction bitcoins confiscated from drug dealers

They intend to sell the Cryptocurrency as soon as possible.

18.Dec.17 3:47 AM
By Johnatan Toadlicker


German law enforcers will auction bitcoins confiscated from drug dealers
German law enforcers invented how to deal with the bitcoins seized from drug traffickers. Attackers engaged in investment: money received from illegal activities; they invested in the cryptocurrency. They also accepted payment in the cryptocurrency.

126 units of crypto-currency were confiscated three years ago during the operation, in which the police of Hessen, Europol and the FBI were involved. The goal of law enforcement officers was the criminals selling illicit substances on the Internet. At that time, the cost of seized bitcoins was 50 thousand euros, but now, when the course of this crypto-currency has radically changed, they are estimated at almost 2 million euros.

In law enforcement agencies do not intend to wait for the bitcoin rate to reach even more determined values, and decided to sell money to the money of drug traffickers at the auction.

"We treat bitcoins as perishable products and therefore organize tenders," said Benjamin Krause, the Central Department for Combating Cybercrime, the prosecutor.

Previously, the Bulgarian police uncovered an extensive network of smugglers who, with the help of viruses, deceived customs and invested money in bitcoins. As a result, they accumulated a considerable amount - it is equal to 7% of the country's GDP.

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