Here’s your last chance to grab a chunk of those bitcoins authorities seized when they arrested Silk Road founder Ross Ulbricht. On November 5th, the US Marshals will be auctioning off 44,341 bitcoins — around $10.7 million worth — from 8AM to 2PM EST. The bitcoins will be sold in 21 chunks of 2,000 each, along with a single block containing 2,341 BTC. Note that you can’t just show up during the online auction and bid: you need to fill out a bidder registration form and email it to the Marshals by November 2nd. The agency will then notify the winners on November 6th.
Silk Road, an online black market where people sold drugs and guns, reportedly made $1.2 billion during the two years that it was operational. Ulbricht was arrested when the feds seized the website raid and was sentenced to life in prison earlier this year for narcotics trafficking, money laundering and hacking, among other charges. Authorities previously held a couple of auctions to sell off huge chunks of Bitcoins confiscated from the marketplace and even accidentally leaked the first round’s bidder list.
[Image credit: Getty/TimArbaev]
Via: CoinDesk, TechCrunch, Reuters
Source: US Marshals