Taoyuan auction raises more than NT$21.46 million as all 120,000 USDT tokens sell

More than 120,000 Tether tokens were sold in full at Taoyuan’s latest government auction, bringing in NT$3.847 million and adding a cryptocurrency twist to the day’s brisk bidding.

The Ministry of Justice’s Agency of Administrative Enforcement, Taoyuan Branch, held its “123 Joint Auction Day” on Sept. 1. The event covered vehicles, virtual currency, real estate and movable property, with total successful bids exceeding NT$21.46 million.

The cryptocurrency came from assets seized in cases entrusted by the Taoyuan District Prosecutors Office involving defendants suspected of fraud and violations of the Money Laundering Control Act. Officials divided the tokens into 10 lots. Some attracted repeated bids, with one lot receiving as many as 13 offers before being sold.

The auction opened with a 2010 Hyundai 2,497cc passenger car that had gone through several previous sales. It finally sold for NT$3,000. Among the real estate, an apartment share on Jianguo East Road in Taoyuan District fetched NT$360,006, while seven plots in the Jinlong section of Longtan District sold for NT$14.51 million. A mortgage holder took over a five-story building share on Haigang Road in Luzhu District at the starting price of NT$2.68 million.

Yang Hsin Commercial Bank shares also drew strong competition. After 27 bids, the winning buyer paid NT$62,000 for 4,283 shares.