U.S. Marshals Plan Public sale of fifty,000 Bitcoins Seized From Silk Road

The U.S. Marshals Service plans to public sale off one different 50,000 bitcoins seized from the coffers of alleged Silk Road ringleader Ross Ulbricht in the middle of the takeover of the infamous Net black market in October 2013. Identical to the Service’s earlier public sale of seized bitcoins, which concluded in July, this one shall be divided into two rounds. The first will perform 10 a variety of 2,000 bitcoins, the second 10 quite a few three,000. A $100,000 deposit is required for the earlier, $100 fifty,000 for the latter, to ensure all bidders are crucial. At in the intervening time’s change costs, the entire value of the 50,000 bitcoins is about $19 million. That’s solely barely larger than the price of the sooner assortment of 30,000, owing to the fluctuating value of the overseas cash. Remaining time all the set was gained by investor Tim Draper, nevertheless since bids are secret, we can’t know who’s collaborating on this public sale (till the Marshals Service leaks that information by accident as soon as extra).

Solely weeks after federal brokers raided Silk Road, one different mannequin sprang up. Nevertheless Silk Road 2.zero too was taken down by the FBI two weeks up to now. There is no phrase on whether or not or not any very important bitcoin outlets have been seized.

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—Devin Coldewey
First revealed November 17 2014, 12:17 PM