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This article was published on August 8, 2016

US government to auction $1.6 million in Bitcoin from cases like Silk Road this month

US government to auction $1.6 million in Bitcoin from cases like Silk Road this month
Nate Swanner
Story by

Nate Swanner

Former Reporter, TNW

TNW's former West Coast writer in the PNW (Portland, Oregon). Nate loves amplifying developers, and codes in Swift when he's not writing. If TNW's former West Coast writer in the PNW (Portland, Oregon). Nate loves amplifying developers, and codes in Swift when he's not writing. If you need to get in touch, Twitter is your best bet.

The US government has announced it will look to auction 2,719 Bitcoin it seized during cases like Silk Road.

An auction will be held on August 22, and those expecting to participate in the action must register by August 18. According to CoinDesk, the Bitcoin are worth about $1.6 million.

Reuters reports the Marshal Service acquired the digital currency from nine different criminal, civil or administrative cases. Included in them are Bitcoin seized during the Silk Road trial, where founder Ross Ulbricht was found guilty of knowingly operating a black market for drugs and other illegal goods and handed two life sentences.

If you’re looking for a digital collectors item, it’ll be tough. Only 2.8 Bitcoins are directly related to Ulbricht, but a whopping 1,294 came from Silk Road drug dealer Matthew Gillum.

65 Bitcoins came from Carl Force, a DEA agent who was skimming Bitcoin during the Silk Road investigation. That might be cooler than having Ulbricht’s coins (Donnie Brasco, anyone?).