US Marshals Service to Hold Bitcoin Auction
In a press release on March 5th, the US Marshals Service announced an auction for roughly 2,170 Bitcoins that had been seized during various federal criminal, civil, and administrative cases.
The informed date for the auction is March 19, 2018, from 8 a.m. to 2 p.m. EDT. The registration process for those interested in bidding at the auction will require a deposit of $200,000, which must be made by March 14 at noon EDT.
The bitcoins will be split into 14 separate blocks and offered in that order: two blocks of 500 BTC, eleven blocks of 100 BTC, and one block of about 70 BTC. On the day of the auction, the successful bidders will receive a confidential notification.
The US Marshals Service has published a list of the various cases from which bitcoins are seized in the form of an official notice on their website. Shaun Bridges, one of the record, was found guilty in 2015 of stealing $800,000 worth of bitcoins.
Bitcoins that were taken during civil and criminal proceedings have previously been auctioned off by the US Marshals Service. On January 22, 2018, the agency sold 3,813 BTC, which, at the exchange rate in effect on that day, was worth over $40 million.
In August 2016 there was a previous auction, where 2,700 BTC were sold. At the time, the estimated market value was close to $1.6 million.
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