TweakTown
Tech content trusted by users in North America and around the world
6,159 Reviews & Articles | 39,584 News Posts
TRENDING NOW: Star Citizen creator: "I don't care about consoles"

Seized Silk Road bitcoins auctioned off, with 45 bidders involved

More than 40 bidders competed for almost 30,000 bitcoins seized from Silk Road

| Business, Financial & Legal News | Posted: Jun 30, 2014 8:11 pm

The US Marshals Service successfully auctioned off bitcoins seized from Silk Road, with 45 registered bidders participating for their share of 29,000 bitcoins valued around $18.7 million. The auction took 12 hours and winning bidders will be contacted before the end of the day today to claim their prize.

 

TweakTown image news/3/8/38780_01_seized_silk_road_bitcoins_auctioned_off_with_45_bidders_involved.jpg

 

The bitcoins were separated into nine separate blocks of 3,000, and the last one had 2,657 bitcoins. The award process is currently ongoing, so there isn't a final tally of winning bidders just yet, according to the Marshals Service. This is a rather unprecedented event, so the government was unsure if it should reveal winning bidders - and what they paid for the seized bitcoins.

 

An additional cache of bitcoins valued around $85 million, which belonged to Silk Road owner Ross Ulbricht could be auctioned in the future - pending legal proceedings where Ulbricht saying they are his personal property and not related to Silk Road.

NEWS SOURCESCoindesk.com, Cdn0.sbnation.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases