The U.S Marshals Service (USMS), the police agency in charge of executing federal orders, recently announced that it will be holding an auction of more than 23 million dollars in bitcoin cryptocurrency this March, the second and last auction of cryptocurrencies of the year made by this institution.
The activity has been scheduled for March 19 and a total of 2,170 BTC are listed online to be auctioned that day. The government agency stresses that potential bidders must submit a total deposit of $ 200,000 dollars to participate in the auction, as well as complete the registration requirements before March 14 against the USMS.
In this way, the auction has been organized in 14 different and separate blocks, between which two blocks of 500 BTC, 11 blocks of 100 BTC each and a single block that will offer 70 BTC to those interested will be distributed.
U.S Marshals Service website stated
This sealed bid auction for approximately 2,170 Bitcoin separated into three series: Series A (2 blocks of 500 Bitcoin), Series B (11 blocks of 100 Bitcoin) and Series C (1 Block of approximately 70 Bitcoin). You will not have the opportunity to view other bids. You will not have the opportunity to change your bid once submitted.
According to the Marshals, the confiscated bitcoins come from various federal crimes, as well as from civil and administrative cases. In this regard, cryptocurrencies seized by the Drug Control Agency (DEA) and some bitcoins belonging to Shaun Bridges, a former Secret Service agent who was sentenced to prison after having stolen funds during the Silk Road investigation.
This auction is the last bitcoin sale activity that will be carried out by the U.S Marshals in 2018, becoming the third sale made by the U.S Marshals in the last 2 years.
In 2016, a total of 2,700 BTC, among which the bitcoins belonging to the cases of Ross Ulbricht and Carl Force stood out.
In 2017, a total of 3,600 BTC seized from the Dark Web were sold to 5 winners, with the total worth 30 million dollars at the time of sale.