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660 Bitcoins, Worth $4.3 Million Will Be Auctioned By US Marshals Next Month

Bitcoin | Auction | U.S. Marshall

The U.S. Marshals will be auctioning off nearly $4.3 million bitcoin next month. An announcement regarding the same was made on Wednesday, it mentions that the sealed bid auction is for about 660 bitcoin that were forfeited in federal criminal, civil and administrative cases.

The announcement further elaborated that the auction is scheduled to start on Nov. 5. To participate the would-be bidders are required to register identification with the agency and deposit  $200,000 until Oct .31. The auction will occur in two parts with six blocks of 100 bitcoin each and one remaining block with 60 BTC. The bidders will not be allowed to view bif by others nor can they change their bill once submitted.

It was further indicated that the  forfeited bitcoin to be auctioned are from several recent cases such as the U.S government’s lawsuits against bitcoin traders Theresa Tetley and Thomas Mario Costanzo – both sentenced to jail on charges of BTC money laundering.

The auction just comes months after the U.S. Marshals sold over 2,100 BTC and 3,600 BTC in March and January, respectively, an amount totaling to more than $50 million at the time.

Read more: CME Reports That BTC’s Average Daily Volume For Futures Grew 41% in Q3

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