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BITCOIN NEWS Law & Order

US Marshals Will Auction Off The 660 Forfeited Bitcoins

The U.S. Marshals have announced to sell off 660 Bitcoins next month which is nearly worth $4.3 million.

The announcement was made through their website where they revealed that it’s going to accept sealed bids for coins. The auction is scheduled on November 5, and it required $200,000 deposit from those who are looking to be a part of this auction.

The agency, on Wednesday, announced that the bid auction is about the 660 Bitcoins that were yielded in civil, criminal, and administrative cases. 31 separate cases were also involved which includes the highest Bitcoin hauls that are coming from the cases described as FBI Administrative Forfeiture and DEA Administrative Forfeiture.

The auction of Bitcoin is to be done in two series. The first will have six blocks being put up for the sale, whereas, the second one will be for a block of 60 Bitcoins. As the U.S. Marshals said, the bidders won’t be able to change or view the bids of others once they’re submitted.

The government agency indicated that the assets in the auction include bitcoin forfeited in cases happened recently, like the U.S. government’s lawsuits against traders like Theresa Tetley and Thomas Mario Costanzo, in which both of them were sentenced to jail on several charges of money laundering.

This news can ignite many interested bidders. In case one is interested, bidder registration is going to be opened on Monday (October 22nd ) at 8 AM. The deadline for the registration is 12 PM on October 31st. The online auction will be on Monday, November 5th, and the winners will be notified by the end of the day.

It is not the first time the U.S. Marshals are selling off Bitcoins. Earlier this year in January and March, it raised more than $50 million in which U.S. Marshals sold 2100 BTC in March and 3600 BTC in January, respectively.

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