US Marshals auction off $1.6M in bitcoin

An anonymous bidder purchased 2,700 bitcoins worth roughly $1.6 million in an auction Monday held by the U.S. Marshals Service.

CoinDesk, a website which reports on the digital currency, confirmed with the Marshals that four bids were received in the auction.

The federal law enforcement agency acquired the bitcoins in several cases involving the dark web commerce market, the Silk Road, and a major player there, Ross Williams Ulbricht.

The agency has been selling off the bitcoins in a series of auctions. The last auction happened on Nov. 15, reports Reuters, when 11 bidders bought 44,000 bitcoins worth $14.6 million.

Only 2.8 of this auction’s coins came from Ulbricht’s seized store. The bulk of the coins were confiscated from a Silk Road drug dealer, Matthew Gillum, who is currently serving a nine-year prison sentence. A total of 664 coins came from Sean Roberson who was arrested for selling counterfeit credit and debit cards online. Sixty-five coins came from Carl Force, a former Drug Enforcement Administration agent who was arrested for stealing bitcoins during the Silk Road investigation.

Both were sentenced to 78-month prison sentences last fall.

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