Australian authorities want to sell Bitcoins, but are afraid of hackers

Selling of 24,500 Bitcoins confiscated from the Australian drug lord are planned in the near future, but its details are kept secret for fear of bitcoins theft.

After two years of storage, the Australian Ministry of Justice is going to sell its stock of bitcoins, according to Australian news agency Herald Sun. According to journalists, the contract for sale cryptocurrency has already been concluded, but details were not disclosed. In response to questions Herald Sun, representative of the Ministry wrote:

"Because of the nature and features of bitcoins storage are vulnerable to hacking and theft, as well as computer viruses ... Individuals with technical knowledge bitcoins and computer systems can use that knowledge to steal bitcoins, thereby exposing the Ministry of unreasonable financial damage."

In the discussion on the forum Bitcointalk users responded to the fears of the Australian authorities ironic:

"Someone should tell these guys how Bitcoin works." In their view, off-purse can reliably protect bitcoins from theft.

The money was confiscated in November 2013 from Richard Pollard, an Australian drug lord, acting on the underground market Silk Road. When in March 2015, journalists asked a question about the sale of bitcoins, a spokesman for the Ministry of Justice replied that the time has not come yet, and "given the volatility of digital currency, it is important to carry out the transaction on the market so as to obtain the greatest benefit."

Over time, these arguments seem reasonable. At the time, as in 2014, bitcoin exchange rate fell, and for most of 2015 it remained below $ 300, now it is growing, making it more profitable sales cryptocurrency. Bitcoin Silk Road, sold the US Marshals Service, went under the hammer at relatively low prices.