UK and Ireland based auction house Wilsons Auctions, which is a leading advisory service for worldwide law enforcement agencies, is planning to hold its first Bitcoin auction as per a signed contract with the Belgium Federal Government.

The 24-hour online auction is set to start at 12 noon (GMT) on 28 February, during which there will be sold off a total amount of about 430,000 USD in cryptocurrencies, which were seized by the Belgium police as a result of a drug trafficking case involving the use of the Darknet.

Head of Asset Recovery of Wilsons Auctions, Aidan Larkin mentioned, “We are thrilled to be awarded this 1st of its kind contract with the Belgium Federal Government to sell seized cryptocurrency, giving us the ability to offer government and law enforcement agencies worldwide, a secure solution so that the ever-increasing problem of seized cryptocurrencies can be managed by a reputable auction company with significant experience dealing with seized assets.”

In addition, Wilsons Auctions will sell some Bitcoin at its Unreserved Government Auction in Northern Ireland. However, the amount of the coins is not disclosed.