Australia to Auction $11.49 Million Worth of Bitcoins Confiscated After the Closure of Silk Road
Global assurance, tax and advisory services firm, Ernst & Young, will facilitate a first-of-its-kind Bitcoin sale process in Australia on June 20. Going by its current rate (1 BTC = $526), the 24,518 Bitcoins up for grabs, split into 11 lots of 2,000 coins and one lot of approximately 2,518, are worth about $13 million. The Bitcoins are proceeds of crime as part of the civil forfeiture connected to the conviction of Ross Ulbricht for running the Silk Road drug marketplace last year. Silk Road treasure brought to the hammer. 144,000 Bitcoins were seized from Ulbricht after he was found....
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An auction in Sydney will put up over $13 million ($18 million AUD) in bitcoin for auction next month. The bitcoins were confiscated as “the proceeds of crime”, announced global services firm Ernst & Young, referring to the now-defunct online dark market, Silk Road. Ernst & Young Australia will hold an international auction for 24,518 bitcoins (approx. $13.03 million at the time of publishing) confiscated from an Australian national involved in drug market Silk Road. The bitcoins were seized last year following the sentencing of Melbourne native Richard Pollard. Arrested in late....
The US Marshals Service (USMS) has revealed it is likely to auction off any remaining bitcoins confiscated from convicted Silk Road mastermind Ross Ulbricht sometime in 2015. In total, the USMS seized more than 144,000 BTC (then worth $122m) from Ulbricht in late 2013 along with 29,655 BTC held in wallets on the online black market at the time of its closure. The event will be the final auction involving bitcoins from the Silk Road investigation, with 44,336 BTC ($10m at press time) being offered up to prospective investors. A spokesperson for the USMS told CoinDesk: "We still don't have....
Over the past year, the U. S. Marshals Service (USMS ) has auctioned off a large part of the bitcoin that had been confiscated as a result of the Silk Road investigation. The USMS will hold the final auction for 44,341 bitcoin seized as a result of the criminal conviction and civil forfeiture against Ross Ulbricht. At today's market price, the bitcoin are worth about $15 million. During the course of the investigation, the USMS seized more than 144,000 BTC from Ross Ulbricht, the creator of the Silk Road marketplace. At the moment of seizure, the bitcoin were worth about $122 million. In....
One of the “Big Four” audit firms the multinational financial management service Ernst & Young (EY) is auctioning $16 million worth of bitcoin next month in Sydney, Australia. The 24,518 bitcoins seized by special agencies will make for the country’s first cryptocurrency auction of this magnitude — much like the U.S. Marshals Silk Road auctions in....
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....