Scheduled to start on 5 November, the auction requires would-be bidders to deposit USD 200,000 after registering their identification with the agency no later than 31 October. Based on the announcement, the auction consists of two parts with six blocks of 100 Bitcoin each and one remaining block with 60 Bitcoin. Bidders will not be able to view other bids or change their bid once submitted.
The government agency said in an announcement that the sealed bid auction is for about 660 Bitcoin that were forfeited in federal criminal, civil, and administrative cases.
The planned auction comes just months after the US Marshals sold over 2,100 Bitcoin and 3,600 Bitcoin in March 2018 and January 2018, respectively, an amount totalling to more than USD 50 million at the time, the online publication continued.
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