1.6 million US dollar value of bitcoin to be sold off by the US Marshals

8 August 2016

According to the latest reports 2,700 BTC will be auctioned by the US Marshals Services in September. The amount is worth today 1.6 million US dollars and is to be offered on the auction on the heels of the government’s successful efforts in investigations into the criminal cases and civil proceedings over bitcoins related scams and disputes.

The bitcoins coming from the criminal and civil proceedings include the case of the ex-federal agent Carl Force IV along with the Silk Road administrator Ross Ulbricht. Apart from this US authorities seized up the coins, which now will be used to generate funds for the US budget. These agencies include US Department of Homeland Security; the Bureau of Alcohol, Firearms and Tobacco and the Internal Revenue Service.

The event will be held as a one block with the 1 hundred thousand US dollars to be paid in deposit. The registration deadline is August 18, while the auction will be conducted from 13:00 to 19:00 UTC on August 22.

As the show organizers note that winners will not have to wait for the results, as they will be announced the same day.

It is the first time this year when the US Marshals Service is offering the sales of the cryptocurrency, yet it is not its first time, as it has been doing so for the past two years. Previously major part of the auctioned bitcoins also originated from the US governmental investigations into the dark market of Silk Road.

Ernst & Young earlier also offered a pack of about 24,500 BTC in another auction. These money were confiscated from the ex user of the Former Sulk Road.


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