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US to auction USD 1.6 mln worth of Bitcoin

Tuesday 9 August 2016 00:04 CET | News

The US government has revealed plans to auction over 2,700 Bitcoins that were forfeited during several cases.

The US Marshals Service said that the online auction would be held on Aug. 22 2016, and that potential bidders must register by Aug. 18 2016. The Bitcoin are worth about USD 1.6 million, according to the Bitstamp exchange.

The bulk of the Bitcoins in the auction, 1,294, came from a civil forfeiture case related to a Silk Road drug dealer, Matthew Gillum, who was sentenced in 2015 to nine years in prison, the Marshals Service said.

It said another 65 Bitcoins came from the case of Carl Force, a former U.S. Drug Enforcement Administration agent who was sentenced in October to 78 months in prison for stealing Bitcoins during the Silk Road investigation.

The agency said another 664 Bitcoins came from the case of Sean Roberson, a Florida man who prosecutors said created an online shop for selling counterfeit credit and debit cards. He was sentenced in November 2015 to 78 months in prison.


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Keywords: Bitcoin, mining, cryptocurrency, digital currency, online payments, online security, online transactions
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3