Urgent plea to prevent auction of $1.6B Bitcoin seized from Silk Road hacker
Pierre Rochard has made an “urgent” plea to lawmakers to instead create a strategic Bitcoin reserve and fill it with BTC seized by law enforcement. Bitcoin influencer Pierre Rochard has called on lawmakers to prevent more than $1.6 billion worth of seized Bitcoin from being auctioned, proposing instead that confiscated coins be put into a strategic BTC reserve.Rochard, a Bitcoin maximalist behind the recent controversy over ETH’s total supply, wants legislators to draft and pass a bill containing amendments to the Judiciary Act of 1789 that would allow the U.S. Marshals Service to hold....
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According to a recent post from crypto-blogger Krypt3ia, the wallet of the Shadow Brokers group who are auctioning NSA hacking tools, has been receiving the very same bitcoin that was seized from Silk Road. Shadow Brokers Wallet ‘Tested’ by Seized Silk Road Bitcoins. Last week, Krypt3ia stated that the Shadow Brokers are getting small amounts of....
50,000 Bitcoins are going to be auctioned in the coming weeks. Despite the fact that Ross Ulbricht is not scheduled to stand trial until after the holiday season, the US Marshal's Service is going ahead with a second round of their Silk Road Bitcoin Auction. These Bitcoins that are currently being sold through the beginning of December likely belong to Ross Ulbricht himself, not Silk Road or Silk Road users. In January, Ross Ulbricht and his lawyers signed a court order that allowed the USMS to sell Bitcoins belonging to Silk Road and all property traceable from said crime, "including but....
So far, the auction held by The Shadow Brokers has collected 1.761 Bitcoin, which is next to nothing. The Shadow Brokers are attracting a lot of attention with their so-called NSA exploit kit auction. Although the group is demanding a price of 1 million Bitcoin, several of the bis which have been confirmed raise some questions. The US government obtained several thousand Bitcoin when shutting down Silk Road. What is preventing them from using this funds to win the auction? Hardly anyone will be surprised to hear the US government will do everything they can to prevent this NSA toolkit from....
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....
It remains unknown as to how these bidders will value the price per Bitcoin, as it does not have to be the same as the current market price. Another Bitcoin auction will be held by the US government on August 22, 2016. This auction is a lot smaller compared to previous ones, as “only” 2,700 bitcoins will be up for grabs. All of these coins were seized during investigations of Silk Road. Interested bidders must register by August 18 if they want to get their hands on US$1.6m worth of Bitcoin. When the Silk Road platform was shut down by government officials a few years ago, significant....