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US to auction off 29,656 bitcoins seized from Silk Road, worth over $17.5M

ClownPenis (1315157) writes | about 3 months ago

0

ClownPenis (1315157) writes "On Thursday, the United States Marshals Service posted a notice that it will be administering the sale of the over 29,600 bitcoins seized in the Silk Road case. At present exchange rates, those bitcoins are worth over $17.5 million.

FURTHER READING

FEDS READY TO AUCTION OFF $25 MILLION IN SILK ROAD BITCOIN
Funds seized from alleged Silk Road founder Ross Ulbricht are still in contention.
These bitcoins resided in six different wallets found on Silk Road servers and do not include the “bitcoins contained in wallet files that resided on certain computer hardware belonging to Ross William Ulbricht, that were seized on or about October 24, 2013.”
The USMS said that the first deadline for bidders will be 9am Eastern Time on June 16, 2014.

All bidders must complete the government’s Bidder Registration Form (PDF), which requires that you provide a copy of a government-issued ID as well as a $200,000 deposit sent by wire transfer from an American bank. The government added that the highest bidder will win, and he or she cannot finance its payment in installments—the winner must pay the full amount in cash."

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