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Bitcoin Auction: 2,170 BTC to Be Sold by the U.S. Marshals Service

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The U.S. Marshals Service (USMS) have published a press release for the upcoming Bitcoin auction. 2,170 BTC (worth $25 million) are being sold, which were seized by USMS, belonging originally to federal criminal, civil and administrative cases. The event will take place on March 19th, from 8 a.m. until 2 p.m. EDT.

How to Bid for BTC?

The registration is open until March 14th. Bidders are required to deposit an amount of $200,000, which will be transferred back to them if they don’t win any BTC.

Bids will be accepted by email from preregistered bidders only. The bitcoins are offered for sale in 14 blocks: two blocks of 500 bitcoins, 11 blocks of 100 bitcoins and one block of approximately 70 bitcoins.

The winning bidder will be notified March 19. Further details on the auction are available at www.usmarshals.gov/assets/2018/marchbitcoinauction.

The USMS also posted a list of the sources of the seized bitcoins including Carl James Pugh, Justin Moreira, Bitcoin Account Wallet Address xxxxChgi, Shaun Bridges, abandoned BTC and 15 cases of DEA Administrative Forfeiture.

Who Can Participate?

Anyone who has a US bank account is allowed to bid for these Bitcoins but only cash (U.S. dollars) is accepted throughout the whole process. Additionally, bidders from the U.S. Treasury Department’s Office of Foreign Assets control list of “Specially Designated Nationals” are ineligible. Winners and losing bidders will be notified via email by March 19, and winners will be required to complete the purchase through a wire transfer.

Previous U.S. Marshals Service BTC Auctions

The first BTC auction took place in Jun. 2014, when the USMS sold over 30,000 bitcoins from a raid on Silk Road. The next auction occurred in Dec. 2014, with a larger number of BTC available for purchase (approximately 50,000). Another two auctions linked to theprevious criminal cases for 44,341 BTC and 50,000 BTC took place separately in 2015. The latest auction was reported on Jan. 2018, at approximately 3,813 BTC.

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