The U.S. Marshals (USMS) Service announced it will hold a final bitcoin auction to sell the remaining BTC seized during the online black market Silk Road prosecution.
In total, the USMS seized more than 144,000 BTC (then worth $122m) from Ulbricht in late 2013. The majority of the holdings – 100,000 BTC – have already been liquidated by the agency in two public auctions.The auction is set to take place on November 5, 2015 for the sale of 44,341 bitcoins, worth more than $10 million.The six-hour sales will be held from 12:00 UTC to 18:00 UTC, open only to pre-registered bidders.The bitcoins will be sold in 21 blocks of 2,000 bitcoins, with the remaining 2,341 BTC to be sold in a separate block.The winners will be notified one day after according to the USMS.The agency declared that "The registration period starts 19th October and runs until noon 2nd November, at which time potential bidders must have completed all registration requirements.Registration documents that were submitted for the Marshals’ previous bitcoin auctions are not valid for this auction; interested bidders must submit new registration documents to be considered for this auction."This will be the last auction of the bitcoins the government took into custody while prosecuting Ross Ulbricht, who ran Silk Road.Ross Ulbricht was sentenced to life in jail in may 2015.