The U.S. marshals service (USMS), the Federal law enforcement Agency under the U.S. Department of justice, will auction more than 4,000 confiscated bitcoins (BTC).
According to the official website USMS plans to sell “around” 4040 bitcoin (4,040,54069820). For participation in auction it is necessary to make a Deposit in the amount of $ 200,000. USMS stated that it will refund the deposits for those participants who will not win the auction, promising to begin the return of unused Deposit proposals within five working days after the transfer of bitcoin to the winner.
The total amount of bitcoins offered at the auction, costs about $37.2 million at the current rate, based on data from CoinMarketCap. The Agency notes that bitcoin trading has been removed as a result of various Federal criminal, civil and administrative proceedings.
Bidders must pay $200 000 to register for the auction until February 18.
Registration of participants is open from 3 to 12 February. The online auction will be held February 18 from 8:00 a.m. to 14:00 us Eastern standard time (EST). Announcement of winners is scheduled for 17:00. However, the winner may take more time depending on the number of applications received and the complexity of the review process, which can take additional time and prevents USMS.
Like the previous auctions conducted by the USMS, the next auction will be divided into parts. In particular, the auction of bitcoin will be divided into series, 2500, 1000, 500 and 40.54069820 bitcoin each.
Source: U.S. marshals Service
The recently announced auction of bitcoins already traditional for the past years. Thus, in January 2018 the us state administration has sold over 3800 confiscated bitcoins before announcing the auction for 600 BTC in October.
Today the auctions of confiscated bitcoins practiced by several governments. In February 2018, the auction house of the UK and Ireland, Wilsons Auctions held its first bitcoin auction. And in 2017, the South Korean government said it plans to auction 216 bitcoins.