A Bitcoin Auction To Be Held By The US Marshals Service

There will be an auction of approximately 2,170 Bitcoins announced by the US Marshals Service that were seized in the course of various federal criminal, civil and administrative cases, as stated in a press release on the 5th of March .

The date for the auction as announced will be on March 19, 2018, from 8 am to 2 pm. Bidders interested in participating in the auction must go through the registration process, with a deposit of $200,000 due by noon EDT March 14.

The bitcoins will be divided and offered in 14 different blocks: two blocks of 500 BTC, 11 blocks of 100 BTC, and one block of approximately 70 BTC. Private notification will be sent to winning bidders on the same day of the auction.

The US Marshals Service posted on their website a list of the order of cases in which bitcoins were seized in the form of an official notice. Shaun Bridges, one of the records, was convicted of stealing $800,000 in bitcoins in 2015.

The US Marshals Service has previously held auctions of bitcoins seized in the course of civil and criminal proceedings. The agency sold 3,813 BTC on January 22, 2018, an amount worth more than $40 million according to the exchange rate of that particular day.

The previous auction was held in August 2016 where 2,700 BTC were sold. The estimated market value at the time was around $1.6 million.

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