US Marshals to auction off $1.6m in Bitcoin

US Marshals to auction off $1.6m in Bitcoin

The United States Marshals Service is set to auction off 2700 Bitcoin, currently worth around $1.6 million, that were obtained during various cases related to the Silk Road dark web marketplace.

The auction, which will take place on 22 August, involves cyrptocurrency connected with "various federal criminal, civil and administrative cases," says the Marshals Service.

Over the last two years the service has carried out four auctions to sell off tens of thousands of Bitcoins seized during the case against Silk Road kingpin Ross Ulbricht, who is now serving a life sentence.

The latest auction only involves about 2.8 Bitcoins related to Ulbricht's case, say Marshals. Most - 1294 - come from a civil forfeiture case related to Matthew Gillum, a convinced Silk Road drug dealer.

Another 65 come from Carl Force, the former Drug Enforcement Administration agent who was jailed for stealing Bitcoin during the Silk Road investigation. Meanwhile, 664 come from the case of Sean Roberson, who has been jailed for creating an online shop for selling counterfeit credit and debit cards.

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