U.S. Marshals Announces Auction of 3,813 Bitcoins Seized From Criminal ‎Cases

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The US government on Thursday said it plans to auction ‎3,813 ‎‎bitcoins on January 22, 2018. The auction being conducted by the US ‎marshals service is not the first for bitcoins seized in connection with ‎various federal criminal, civil and administrative cases.‎

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This sealed auction will be divided into three rounds. The first will feature 5 lots of 500 bitcoins, the second 5 lots of 100, while the USMS will sell-off 813 bitcoins in the final round. ‎A $200,000 deposit is required for participating in the auction, to ensure all bidders are serious.

For those wishing to partake, bidders must verify their identity by providing ‎copy of a government-issued photo ID, as well as additional confirmation proofs.

Bidders must register for the six-hour auction by January 19, and winners will be notified on January ‎‎22. If the USMS determines that a ‎participant is not eligible, the deposit funds will be returned.‎

At the exchange rate at the time of this posting, the value of offered bitcoins is more than $50 million. By that measure, fronting the U.S. Marshals ‎‎$200,000 seems more than reasonable.‎

‎The US authorities has accrued millions of dollars from sales of seized bitcoin ‎in recent years. Authorities sold almost 30,000 bitcoins confiscated from the ‎Silk Road marketplace on the darknet in 2014.

The auctions are intended to be anonymous, but ‎a leaked list of bidders in a previous sales revealed ‎that interested parties included staff from ‎various investment funds, banks and ‎founders of blockchain-related startups.‎

First Appear on: Financemagnates


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