Taiwan to Auction Over 250,000 Tether Coins Seized in Fraud Case

The Executive Agency's Taoyuan Branch is set to auction a significant amount of cryptocurrency, specifically over 250,000 Tether (USDT) stablecoins, on August 4. This digital asset was confiscated as part of a fraud investigation involving three defendants.

The auction, part of a larger "123 Joint Auction Event," will see the Tether divided into multiple lots. Officials emphasized that potential buyers must be prepared in advance. To participate, individuals need to establish a digital wallet account with a financial institution that has completed anti-money laundering registration, as approved by Taiwan's Financial Supervisory Commission.

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Over 250,000 Tether coins were originally owned by three defendants involved in a fraud case investigated by the Taoyuan District Prosecutors Office.

Registration for the auction is scheduled for the morning of August 4, between 9:00 AM and 10:10 AM. Participants must also pay a required deposit to be eligible to bid. Further details and specific regulations can be found on the Taoyuan Branch's official website in their "Virtual Currency Auction Special Zone."

In addition to the virtual currency, the auction will also feature physical assets, including shares in Bank of Taiwan and several real estate properties. These include a five-story building and land in Guanyin District, as well as stakes in apartments and commercial properties in Luzhu, Taoyuan, Zhongli, Bade, and Dayuan districts.

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Interested buyers should first open a digital wallet account in their own name with an operator that has completed anti-money laundering registration, as announced by the Financial Supervisory Commission.