09 October 2015

US govt to auction Silk Road bitcoins

13 June 2014  |  3499 views  |  0 Bitcoin

The US Marshals' office is auctioning off nearly 30,000 bitcoin seized last year from the Silk Road dark web marketplace.

The online auction will take place on 27 June for the 29,656.5 coins - worth just under $18 million at current rates.

Anyone interested in the haul will have to register their interest with the Marshals' office first, providing a government issued photo ID and wiring a $200,000 deposit from a bank within the US.

The sale comes after Preet Bharara, the US Attorney for the Southern District of New York, gave the go-ahead in January to liquidate the bicoins, which were swiped from the Silk Road server in September.

At the time of the raid, the government also seized an additional 144,336 bitcoins that were found on computer hardware belonging to Silk Road founder Ross William Ulbricht.

There are no plans yet to sell these coins, which Ulbricht has demanded be returned to him.


Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

12 June, 2014
30 May, 2014
08 May, 2014
14 February, 2014
27 January, 2014
17 January, 2014
03 October, 2013

Top topics

Most viewed Most shared
European Parliament rubberstamps Payment S...
8438 views comments | 44 tweets | 56 linkedin
Faster Payments eases access for challenge...
4961 views comments | 20 tweets | 25 linkedin
Chinese hackers breach LoopPay
4821 views comments | 8 tweets | 6 linkedin
From biometrics to one-time passcodes, Mas...
4483 views comments | 12 tweets | 18 linkedin
Hacker slams Danske Bank for alleged secur...
4453 views comments | 7 tweets | 8 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job