The government of Bavaria sold on the stock exchanges cryptocurrency for $14 million

The concern about the high price volatility that prompted law enforcement authorities in Germany to undertake an urgent sale of the confiscated cryptocurrency amounting to more than 12 million euros ($14 million).

Local media Der Tagesspiegel reported
Monday that the Bavarian Prosecutor’s office ordered the sale of 20 Feb. At that time the price of bitcoin had recovered to almost $10 000 dollars, after 6 February were recorded annual minimum of $5 947.

According to reports, two months of sales were sold BTC 1312, 1399 BCH, 1312 BTG and 220 ETH through more than 1600 transactions in the German trading platform.

Cryptocurrencies were seized during the ongoing investigations conducted by the Bavarian agencies to combat cybercrime. Although the Prosecutor has still not filed charges in two cases, German law allows the urgent sale, if the assets seized in the course of current investigations, are beginning to lose in price.

«Since all crypto currencies is at risk of large price fluctuations or even full depreciation, the Bavarian Central Department of cybercrime was ordered to carry out urgent sale» — said in a message to the office of the Prosecutor.

Cryptocurrencies have been sold, however militiamen have not yet decided how to handle received. In addition, it is unclear whether further progress of the investigation.

At the end of last year, the Central office of cybercrime in the German city of Hesse also made a big sale 126 bitcoins confiscated in the course of several years in the framework of investigations related darknets. At that time the price of bitcoin hovered around $ 20,000, which allowed the authorities to almost $ 2.3 million, according to the previous report Der Tagesspiegel.

This year, the U.S. marshals Service also undertook two major auction for the sale of cryptocurrency seized during investigations. In January the Agency sold
3 800 BTC in March
– 2 170 BTC. To participate in the auction, everyone had to register in advance, plus a refundable security Deposit in the amount of $ 200,000.

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