Bitcoin auction to be held by the US Marshals Service

There is an auction of approximately 2,170 bitcoins announced by the US Marshals Office that were seized in various federal criminal, civil and administrative cases, as stated in a March 5 press release.

The auction date, as informed, will be held on March 19, 2018 from 8:00 AM to 2:00 PM EDT. Bidders interested in participating in the auction will need to go through a registration process, along with a $200,000 deposit, which must be completed by noon on March 14th EDT.

Bitcoins will be split and offered in 14 different blocks: two blocks of 500 BTC, 11 blocks of 100 BTC, and one block of approximately 70 BTC. A personal notification will be sent to winning bidders on the same day as the auction.

The US Marshals Service has published on its website a list of the set of cases from which bitcoins have been seized in the form of an official notice. Sean Bridges, one of the record holders, was convicted of stealing $800,000 in bitcoins in 2015.

The US Marshals Service has previously held auctions of bitcoins that were seized in civil and criminal proceedings. The agency sold 3,813 BTC on January 22, 2018, an amount worth over $40 million based on the exchange rate for that particular day.

The previous auction was held in August 2016 where 2700 BTC were sold. The estimated market value at the time was close to $1.6 million.

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