The US Marshals Service (USMS) has announced on Monday that it will auction 50,000 bitcoins (BTC) belong to accused Silk Road, an Internet black-market bazaar where authorities say illegal drugs and other goods could be bought. An online auction for the bitcoin valued at nearly $19.8 million is scheduled for 4th December 2014.
This will be the second bitcoins auction held by the US agency, following the sale of 30,000 BTC in July.
You need to register with the USMS to bid and initial deposits for the two rounds of $100,000 and $150,000.
You can start to register for the online auction starting today until December 01, 2014.
According to the US Marshals Service, this sealed bid auction is for a portion of the bitcoins contained in wallet files that resided on certain computer hardware belonging to Ross William Ulbricht, that were seized on or about October 24, 2013.
USMS get the authority to sell these bitcoins after the United States District Court for the District of New York entered a Stipulation and Order for Interlocutory Sale of Bitcoins on January 27, 2014. In this order, both the United States and Ross William Ulbricht agreed that “the United States, in its sole discretion, may sell any portion or all of these bitcoins, on a date or dates and in a manner to be determined by the Government.”
The winner of the auction will be notified on 5th December if their bid has been selected and the winner need to make payment on 8th December.
Source: US Marshals Service
