U.S. Govt Schedules Final Bitcoin Auction from Silk Road Case, 44 000 Bitcoins Up for Grabs

The U.S. government has announced a final auction to sell bitcoins seized during the arrest and subsequent prosecution of Silk Road creator Ross Ulbricht.

The U.S. Marshals Service are auctioning off the last batch of bitcoins seized from Darknet drug market Silk Road. The Marshalls Service released a statement pointing to the sale of 44,341 bitcoins, a little over USD $10.6 million in today’s exchange rates.

“These bitcoins were held in wallet files that resided on certain computer hardware belonging to Ross William Ulbricht, that were seized on or about October 24, 2013,” the notice reads.

The press release from the U.S. Marshals Service (USMS) website is available here. The full notice with details for bidders and more can be found here.

The auction is to be held during a six-hour period on November 5 between 0800 and 1400 EST and is openly only to pre-registered bidders. Usms-seal.svg

The bitcoins will be auctioned off in 21 blocks of 2,000 bitcoins and 1 more block of the remaining 2,341 bitcoins.

An excerpt from the notice read:

On January 27, 2014, the United States District Court for the Southern District of New York entered a

Read more ... source: CryptoCoinsNews