Australia will sell off approximately A$16 million ($11.49 million) worth of confiscated bitcoins next month as demand for the cryptocurrency reached its highest level in almost two years.
Selling of 24,518 bitcoins will occur on June 20-21, according to Ernst and Young that will spearhead the first auction outside the United States.
The UK-based entity disclosed the virtual currencies were sequestered as proceeds of illegal act but refused to mention the identity of its client.
But previous news reports mentioned it was nabbed from an Australian who was proven guilty of committing commercial drug smuggling two years ago.
Between 2014 and 2015, US Marshals sold over 170,000 seized digital currencies following regulators shut Silk Road.
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