USMS to Auction 2,719 Seized Bitcoins This Month

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.

Also read: Ernst Young to Auction 24,000 Confiscated Bitcoins in Australia

Multiple Forfeiture Cases Allows USMS to Hold Another Bitcoin Auction

USMSThe bitcoins that were forfeited to the U.S. Marshals come from several different criminal cases. The last auction the government held was for the final blocks of the seized Silk Road coins. This particular sale also includes money coming from the Silk Road marketplace, with bitcoins seized from special agent Carl Force.

The U.S. Marshals state in their announcement:

These bitcoins were forfeited in various federal criminal, civil and administrative cases.

This auction includes seized bitcoins associated with various cases, including the controversial United States v. Carl Force, Sean Roberson, Ross William Ulbricht case.

In order to participate in the auction, potential bidders must register by August 18. Applicants have to pay a deposit fee of $100,000 when registering, which must be deposited “in US Dollars sent by wire transfer originating

Read more ... source: TheBitcoinNews