The Agency of Administrative Execution, Ministry of Justice, held its Double 11 nationwide joint auction on the 11th. For the first time in 25 years, the Changhua Branch auctioned two helicopters, with starting bids of NT$2.1 million and NT$1.23 million. Neither attracted a bid, so the auction was unsuccessful; they will be auctioned again in December. On the same day, the Taichung Branch auctioned more than 296,902 USDT seized by the district prosecutors office, worth approximately NT$9.77 million. No winning bids had been announced by press time. (Earlier coverage: At the forefront of judicial auctions: Taichung to auction 20,000 USDT in three lots on Aug. 24; Shilin Branch to hold an auction in September.) (Background: Former Coolwallet CTO sentenced to five months in first-instance ruling for laundering money for a fraud ring; 80,000 USDT confiscated.) Key takeaways: Changhua Branch’s first helicopter auction in 25 years offered two helicopters, with starting bids of NT$2.1 million and NT$1.23 million; both auctions were unsuccessful. Taichung Branch auctioned 296,902 USDT in 15 lots, worth approximately NT$9.77 million. The helicopters will be auctioned again in December; no results for the USDT auction had been announced by press time. The Agency of Administrative Execution, Ministry of Justice, held its nationwide Double 11 joint auction on November 11. The Changhua Branch offered two helicopters in its first such auction since its establishment 25 years ago, but no one bid, and the auction ended without a sale. On the same day, the Taichung Branch auctioned more than 296,902 Tether (USDT) on behalf of the Taichung District Prosecutors Office. The Taichung Branch had not announced the winning bids by press time. According to China Times News, the two helicopters were a US-made Robinson R22 Beta II two-seat helicopter and a French-made Aerospatiale SA341G. Their starting bids were NT$2.1 million and NT$1.23 million, respectively. The SA341G lot also included some dismantled components and airframe parts. Changhua Branch Director Chen Hsing-min said that all 13 branches nationwide held auctions simultaneously that day. The helicopters were the Changhua Branch’s most high-profile auction items, but, unfortunately, nobody bid and they were not sold. China Times reported that the helicopters will be put up for auction again in December. The helicopters were confiscated in a Civil Aviation Act case. The helicopters were confiscated items in a criminal case that the Nantou District Prosecutors Office had commissioned the branch to sell. According to China Times, in 2020, the Nantou District Prosecutors Office investigated a Taiwanese businessman surnamed Liao for violating the Civil Aviation Act. Liao claimed to be interested in aircraft and to have bought parts from foreign websites to assemble them himself. The helicopter was later confiscated after he flew it without a license. The original owner was suspected of flying it privately in violation of the law, and a court ordered the helicopter confiscated. The starting bids were far below the price of new helicopters. A new R22 two-seater costs around NT$10 million, making the NT$2.1 million starting bid in this auction about one-fifth of the price of a new one. Chiu Shih-min, chairman of the Taiwan Helicopter Association, said in an interview that judicial auction prices are usually around 10% to 20% of the price of a new helicopter. Chiu added that Taiwan’s regulations governing helicopters are strict, so even a successful bidder might only be able to take one home to look at. Because it is difficult to obtain the required licenses to operate a helicopter legally, buyers can generally only keep one as a collectible or use it for parts. One attendee was interested in the helicopter engines and took documents to learn more about their condition. Stocks, rather than helicopters, proved more popular at the Changhua Branch auction, with bids on shares in Bank of Panhsin and Sunny Bank called dozens of times. Taichung Branch auctions USDT in 15 lots. The main focus of the Taichung Branch auction was cryptocurrency. The Taichung District Prosecutors Office had commissioned the branch to sell more than 296,902 Tether, divided into 15 lots. There were also 4,969.24 USD Coin (USDC) and 10,036.06 TRON (TRX), each offered in a single lot. Tether is a stablecoin pegged to the US dollar at a 1:1 ratio. Based on the MAX exchange’s quote of about NT$32.9 on the 11th, 296,902 USDT was worth approximately NT$9.77 million (about US$297,000). The Taichung Branch required cryptocurrency bidders to prepare proof of identity, sign a declaration, and hold an account with a business listed by the Financial Supervisory Commission as having completed anti-money-laundering registration. After a successful bid, the cryptocurrency would be transferred directly to the winner’s wallet at such a business. In other words, the winning bidder needed to have an account with an exchange registered in Taiwan. Chou Lung-kuang, Chief Administrative Enforcement Officer at the Taichung Branch, said in an interview that the cryptocurrency had been seized in a criminal case involving a fraud ring. Chou said the cryptocurrency was worth about NT$9 million at market prices. TVBS reported that cryptocurrency attracted the most active bidding from attendees at the Taichung auction. By press time, BlockTempo had been unable to find any published winning-bid prices for the 15 Tether lots or confirm whether all of them had been sold. The two helicopters at the Changhua Branch are scheduled to be auctioned again in December. Frequently asked questions: Can you fly a helicopter bought at a judicial auction? Taiwan Helicopter Association Chairman Chiu Shih-min said that Taiwan’s helicopter regulations are strict. Judicial auction prices are around 10% to 20% of the price of a new helicopter, but a successful bidder might only be able to keep it for display. TVBS reported that it is difficult to obtain the required licenses, so most buyers would keep one as a collectible or dismantle it for parts. How can I take part in the Administrative Execution Agency’s USDT auction? The Taichung Branch requires bidders to bring proof of identity, sign a declaration, and hold an account with a business listed by the Financial Supervisory Commission as having completed anti-money-laundering registration. After a successful bid, the cryptocurrency is transferred directly to that wallet. The Tether in this auction was divided into 15 lots. Related reports: A marketing company employee’s sudden death uncovered a USDT laundering platform handling NT$20.1 billion; Taiwan was just one of its branches. Religious organizations plus cryptocurrency: Is this Taiwan’s most effective money-laundering combination? Instructor of YouTube channel Trading Crypto Course suspected of being a fraud ringleader, luring members to buy USDT on a fake platform. “Changhua Branch auctions helicopters! Taichung also holds a judicial auction of 296,000 USDT on the same day.” This article was first published by BlockTempo, the most influential blockchain news outlet.