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8/9/2016
09:29 AM
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Bitcoins Forfeited In Silk Road Cases To Be Auctioned

US Marshals Service to sell 2,719 bitcoins worth around $1.6 million on August 22 -- bidders must register by August 18.

The US Marshals Service will hold an online auction of 2,719 bitcoins seized from several cases including those involving the online black market Silk Road, reports Reuters. This is the fifth such auction by the Marshals Service. The earlier four involved bitcoins forfeited during prosecution of former Silk Road administrator Ross Ulbricht.

The bitcoins to be auctioned are reportedly worth around $1.6 million and were seized from nine criminal, civil or administrative cases. About 1,294 came from a Silk Road drug dealer case, 664 from a fake credit card case, while 65 were forfeited from the case involving a former DEA agent, says Reuters. All have been sentenced to prison term by US authorities.

The auction will be held on August 22 and bidders must register by August 18.

Read details on Reuters.

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