US Marshals to Auction 50,000 of Ulbricht’s Bitcoins
“The Silk Road underground website was the global venue for drug trafficking and money laundering, producing millions in dirty profits. DEA and others followed the money throughout this investigation, leading to this seizure. The website was used by drug dealers to put illicit drugs into our communities and literally at our doorsteps nationwide,” said DEA Special Agent in Charge, Brian R. Crowell. The US Marshals announced that it will auction off another set of 50,000 bitcoins, worth about $11.7m at press time, in March. The bitcoins were originally obtained by the FBI when they shut down....
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The US is set to sell off 50,000 bitcoins previously owned by jailed Silk Road founder Ross Ulbricht in a sealed auction, it has been announced. Registration has already commenced for bidding on the coins, which were seized in October 2013 during a raid on Ulbricht’s computer equipment, and will run until March 2. The auction is made up of two series, 10 blocks of 20,000BTC and 10 blocks of 30,000BTC respectively. Bids for the auction, the third of its type and the first since Ulbricht’s conviction, are subject to strict rules: participants may not change their bids after submission and....
The much awaited bitcoin auction by the United States Marshals Service is finally over. The US Marshals Service, in possession of confiscated bitcoins from the Silk Road investigation auctioned the last of them earlier on Thursday. Thursday's auction had about 44,341 bitcoins worth $17.21 million out for bidding by those who had earlier registered with the US Marshals Service. According to reports, the online auction saw 11 bidders bidding 30 times over a span of six hours. Completion of the latest auction signifies liquidation of all the bitcoins seized from the wallets belonging to Silk....
More than 40 hours after the close of the US Marshals Bitcoin auction, the value of 1 BTC against the US dollar has held almost perfectly stable. At the start of Friday’s auction at 6:00 AM EDT, 1 BTC was worth US$590 according to our price tracker. As of 2:00 PM EDT, 1 BTC was worth US$596. Some feared that the auction of more than US$17 million worth of bitcoins would cause a panic sell and possibly send the value of the cryptocurrency tumbling. Instead, a slight uptick was the result. The auction Friday was held by the US Marshals Service, which held about 30,000 bitcoins as a result of....
Venture capitalist Tim Draper has been revealed as the winner of last Friday's USMS bitcoin auction. The US Marshals Service (USMS) has announced that a single, undisclosed bidder claimed all of the roughly 30,000 bitcoins seized from online black market Silk Road and sold in its recent auction. The winning bidder outbid all other parties for the 10 auction blocks, according to the USMS. Further, the bitcoins have already been transferred to the winner, according to Blockchain. The USMS previously said that it would begin notifying bidders as to whether they had secured any of the blocks....
According to several reports, the U.S. government has announced another Bitcoin auction on August 22, selling 2,719 BTC — worth $1.6 million USD at press time — confiscated by authorities. This will be the latest auction of cryptocurrency since the last U.S. Marshals (USMS) sale last year. Multiple Forfeiture Cases Allows USMS to Hold Another Bitcoin....