British police bail out $ 294,000 from the sale of confiscated cryptocurrency at auction
The Special Operations Division in the Eastern region of the UK, in cooperation with the Irish auction house Wilsons, has sold seized crypto assets in Bitcoin, XRP and Ethereum in the amount of over $ 294,000, writes CoinDesk.
“Asset recovery in the digital world has evolved, so it is important that when working with commercial partners, we have a clear process for storing and selling cryptocurrencies,” said Chief Inspector Martin Peters.
A third-party company was hired to verify the participants in the auction, which helped “to make sure that the assets did not return to the criminal sphere.”.
The cryptocurrencies were seized from 19-year-old Elliot Gunton in 2018 after a routine scan of his computer in connection with allegations of hacking into the TalkTalk telecommunications service in 2015. During the audit, it turned out that on his computer, Gunton stored the stolen personal data of users of the EtherDelta exchange, which he sold on the network for $ 3,000 in cryptocurrency. At that time, Gunton’s illegal assets were estimated at $ 337,000. Nevertheless, the proceeds exceeded the market value of the confiscated cryptocurrency on the day of the auction, The Next Web notes..
According to the prosecution, Gunton, together with an accomplice from the United States, hacked into the accounts of several hundred EtherDelta users and withdrew the cryptocurrency on them. The auction was held a few days after the verdict, according to which he will spend the next 20 months in prison, and will also pay $ 509,000.
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