U.S. Marshals Auction Over 44,000 Confiscated Bitcoins
The U.S. Marshals have held an auction of the remaining bitcoins confiscated from Ross Ulbricht (A.K.A. Dread Pirate Roberts) during the Silk Road website investigation which commenced last year. The website enabled its users to buy and sell illegal drugs and other illicit goods and services.
Initially there were around 144,000 bitcoins seized from 31-year-old Ulbricht who is currently serving a life sentence after being found guilty in February on all seven counts in connection with his illegal operation and ownership of Silk Road. This auction of around 44,341 bitcoins (currently worth over $16 million) marks the fourth and final one.
The auction took place on November 5th from 8 a.m. to 2 p.m. EST. Registered bidders bid on 22 blocks: 21 blocks consisting of 2,000 bitcoins and 1 block of just over 2,341 bitcoins. The winners will be notified today.