News

25 Million USD Worth of Bitcoin To Be Sold At An Auction

The US Marshals Service announced on March 5 that they will be hosting an auction for about 2,170 bitcoins equivalent to approximately 25 million USD. The sale which is set to take place on the 19th of this month requires participants to submit a $200,000 deposit and complete the registration requirements by March 14.
The auction will reportedly consist of 14 separate blocks. Two blocks containing 500 BTC, 11 blocks of 100 BTC, and one accounting for 70 BTC.
The bitcoins to be auctioned are confiscated from various federal criminal, civil and administrative cases. The origin of the apprehended bitcoins can be found online. It is worth mentioning that some of the coins are from the case involving Shaun Bridges, the former Secret Service Agent who was sent to jail after a fiasco linking him to the stealing of funds at the time of the Silk Road investigation.
This auction is a follow-up of last month’s auction of the same manner wherein 3,000 BTC were auctioned off which then amounted to roughly 30 million USD. Another auction prior to the mentioned above was held mid-2016 where the agency successfully sold 2,700 BTC.

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