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US Marshals Auctioning $20M Worth of Silk Road's Bitcoins

Posted by Soulskill on from the all-about-the-bitjamins dept.

coondoggie writes: The U.S. Marshals office says it will auction off almost 50,000 bitcoins (about $20 million worth) seized from alleged Silk Road creator Ross Ulbricht. The auction, which is the second sale of Silk Road's bitcoin collection, will take place during a 6-hour period on Dec. 4 from 8:00 a.m. until 2:00 p.m. EST. Bids will be accepted by email from pre-registered bidders only, the U.S. Marshals office said. In June more than $17 million in bitcoins seized from the Silk Road take-down were auctioned off.

2 of 119 comments (clear)

  1. Another word for robbery by canadiannomad · · Score: 5, Informative

    Civil Asset Forfeiture

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    Hmm, the humour and sarcasm seem to have been be lost on you.
  2. But the case hasn't even started! by slashdice · · Score: 5, Informative

    They're being auctioned off, with agreement from Ross Ulbricht, due to the volatility of BTC. There will be a separate civil forfeiture trial later.

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