U.S. Marshals to Auction More Than 4,000 Bitcoins Later This Month

The U.S. Marshals will prepare bitcoins from more than 50 administrative confiscations and cases in the past and prepare to auction them on the 18th of February. This time since November 2018, the U.S. judiciary has again held auctions. If calculated at 11 AM PST today at $9,188.38, this batch of 4040 Bitcoins ready for auction has a total value worth $37.12 million (equivalent to 260 million yuan).

According to the authorities, the auction will last for 6 hours and those participating in the auction need to register on or before February 12 and prepare a deposit of $200,000. This batch of bitcoin will be divided into 4 batches for auction, respectively 2500, 1000, 500 and 40.54, and the first three batches will be further subdivided into 5 to 10 blocks for auction. U.S. Marshals have been conducting bitcoin auctions since 2014, and the last time was November 2018, when 660 bitcoins were auctioned and more than $50 million were obtained from it.

As for other countries’ judicial agencies, similar practices have been adopted. For example, in October last year, the British Police Special Operations Division in the Eastern Region had auctioned cryptocurrencies seized during the operation, including Bitcoin, Ethereum, and Ripple. Kronofogden, the Swedish law enforcement agency, also held auctions. The last time it was auctioned was 4.59 Bitcoin in October last year.