South Korea Sells Bitcoins More Than $ 500K In Auction!?!?

216 Bitcoins may be sold at an auction organized by the South Korean government.Authorities in the country have confiscated the virtual currency during a criminal investigation in 2016, Seoul Economic Daily reports, quoted by CoinDesk.The confiscated battlefields are priced at $ 575,000 at current prices at the time of publication of the material. The crypt is confiscated by a 33-year-old person engaged in illegal online activities.If the auction is successful, it will be the first such auction in the world.According to Korea Asset Management Corporation , all confiscated assets by the authorities become state-owned and are subject to sale through an auction. This also applies to financial assets, including falling-offs.Analysts are expecting the final census against which the bits may be sold to be slightly lower than the market, which at the time of publication was $ 2665.84, according to CoinDesk.

The news for the auction comes at a moment of boom in the Korean cryptolight market.Local platforms for trading in virtual currencies such as Bithumb, Korbit and Coinone enjoy considerable growth in traded volumes.South Korea's trading accounts for 32% of the traded volumes of ether - the crypto-lattice part of the Ethereum block system.

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