A Bitcoin Auction to Be Conducted by US Marshals Service

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There is an auction of approximately 2,170 Bitcoins announced by the US Marshals Service that were seized in the course of different federal criminal, civil and administrative cases, as stated by a press release on the 5th of March.

The date for the auction as informed will take place on March 19, 2018, from 8 a.m to 2 p.m.EDT. The bidders interested in participating in the auction will have to go through a registration process, along with a deposit of $200,000 which must be filled by noon EDT March 14.

The bitcoins will be divided and offered in 14 different blocks: two blocks of 500 BTC, 11 blocks of 100 BTC, and one block of approximately 70 BTC. A private notification will be sent to the winning bidders on the same day as the auction.

The US Marshals Service has posted on their website a list of the range of cases from which the bitcoins are seized in the form of an official notice. Shaun Bridges, one among the record, was convicted of stealing $800,000 in bitcoins in 2015.

The US Marshals Service has previously conducted auctions of bitcoins that were seized in the course of civil and criminal proceedings. The agency sold 3,813 BTC on January 22, 2018, a sum worth over $40 mln according to that particular day’s exchange rate.

The previous auction was conducted in August 2016 where 2,700 BTC were sold. Estimated market value at the time was nearly $1.6 mln.

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Source by Garry Singh

Post Author: Kane Dane

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