The French government plans to auction the cryptocurrency it seized from alleged hackers of London-based cryptocurrency platform GateHub. The French Agency for the Management and Recovery of Seized and Confiscated Assets (AGRASC) said that it would auction 611 bitcoins, which amounts to over $34.8 million at the current price. Paris-based auction house Kapandji Morhange will reportedly auction the 611 bitcoins on March 17. Two sales will be conducted: one at 9 A.M. and the other at 2 P.M. The first sale consists of 437 lots of between 0.11 and two bitcoins. The second sale consists of 41 lots of between five and 20 bitcoins.
GateHub was hacked in June 2019, resulting in the loss of 23 million XRP (Ripple) worth almost $10m. Later the same year, the crypto wallet service was hit by another attack, which saw the private data of 1.4 million users compromised.