September 24, 2023

U.S. Federal Marshals Service to auction 4,000 confiscated bitcoins

On February 18, the US Federal Marshals Service (USMS) will hold another auction for the sale of bitcoins, confiscated by law enforcement. In total, slightly more than 4040 BTC ($ 37.3 million at the current exchange rate) will be put up for auction, CoinDesk writes.

The auction will last six hours. By February 12, potential participants must pre-register, as well as make a security deposit of $ 200,000, which is refunded if the participant does not become a winner.

Cryptocurrency sold under the hammer will beoffered in four lots - 2 500, 1000, 500 and 40,54069820 BTC. The first three lots will be divided into separate blocks, each with a predetermined number of bitcoins.

It is reported that auctioned bitcoins were confiscated in more than 50 court cases and other administrative proceedings.

Recall the first Bitcoin auctionThe US bailiff service held in 2014 - then the funds were withdrawn from the Silk Road trading platform. 30,000 BTC were sold to notorious investor Tim Draper. In addition, part of the Silk Road bitcoins acquired Barry Silbert's Bitcoin Investment Trust and other well-known companies.

The last auction took place in November 2018, when 660 BTC was put up for sale.

In March 2019, it became known that USMSconsiders the feasibility of establishing an agent position, which will be entrusted with the task of managing confiscated bitcoins and other cryptocurrencies, but there has not yet been further development.