US Marshals to auction off final Silk Road bitcoin haul

US Marshals to auction off final Silk Road bitcoin haul

The United States Marshals Service is preparing to auction off the final 44,341 bitcoins - worth around $10.8 million at current prices - seized in connection with the Silk Road dark web marketplace.

The six hour online auction for pre-registered bidders will be carried out on 5 November, with the cryptocurrency sold off in 22 blocks.

This is the fourth time the Feds have sought to offload bitcoins seized during the 2013 Silk Road bust. In the first auction, last July, 30,000 coins were sold in a single lot to venture capitalist Tim Draper. A second tranche of 50,000 went in December, with New York-based exchange SecondMarket winning 48,000.

A third auction of 50,000 bitcoins took place in March, a month after Silk Road kingpin Ross Ulbricht was found guilty of seven charges related to his running of the dark web bazaar where shoppers bought and sold illegal goods with bitcoin. He is now serving a life sentence.

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