US Marshals to hold auction for seized bitcoin

Posted 18 October, 2018

The U.S. Marshals intends to sell 660 seized BTC for some $4.3 million via an auction. The coins were confiscated by the law enforcement bodies during the Federal investigations (civil, administrative, criminal).

According to the document on the official website, the auction will be floated on November 5. At the same time, the participation in bidding will cost $200,000 and an application is accepted until October 31.

The authority stated that the coins will be sold in two stages:

“This sealed bid auction for approximately 660 Bitcoins separated into two series: Series A (6 blocks of 100 Bitcoins) and Series B (1 block of 60.xxxx Bitcoins)”.

Notably, the participants can neither change their own bids or check those of other players.

The US Marshals Service also added that some bitcoins came from the recent cases against such traders as Theresa Tetley and Thomas Mario Costanzo. For reference, Tetley was charged with illegal crypto trading and laundering of “drug business money”.

However, the number of their coins to be sold are unknown, though it was reported that the authorities seized 40 and 80 BTC respectively.

Earlier in January and March, it was reportedly sold 3,813 BTC and 2,170 BTC during similar auctions respectively.

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18 October, 2018 12:21

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