France government is auctioning off confiscated Bitcoin from the London-based hacker platform cryptocurrency GateHub. The French Agency for the Management and Recovery of Confiscated Assets (AGRASC) revealed that the French Government is auctioning off 611 Bitcoins. A number of these bitcoins were confiscated by hackers.
If calculated at current prices, the French government could pocket more than US $ 34.8 million from the proceeds from the auction.
Quoting from Yahoo Finance, Thursday (18/3/2021) the Bitcoin auction was carried out by the Kapandji Morhange auction house as of March 17 yesterday. Of the total Bitcoins auctioned off, 610 matched what was seized by the courts during the GateHub hack investigation.
Until now, the suspected hackers have not been given any punishment. If they are cleared of all charges, they will receive all the proceeds from the sale of Bitcoin that the French government planned.
The GateHub hack that took place in July 2019, involved cybercriminals gaining access to customer accounts on the cryptocurrency platform.
Two of the individuals linked to the crime are Nassim B and Gabriel KAB, also known by the online names Prosox and Kurois’h, who were also found guilty of hacking Despacito’s video on Youtube in 2018.