U.S. Marshals Service to Auction Silk Road Bitcoins

The U.S. Marshals are auctioning approximately 44,341 bitcoins, the last remaining bitcoins in its custody in connection with the criminal conviction of and civil forfeiture action against Ross Ulbricht in federal court in the Southern District of New York.

The auction will take place during a six-hour period Nov. 5 from 8 a.m. to 2 p.m. EST. Bids will be accepted by email from pre-registered bidders only. The bitcoins are being offered in 22 blocks: 21 blocks of 2,000 bitcoins and 1 block of just over 2,341 bitcoins. The winning bidder(s) will be notified Nov. 6.

The registration period starts Oct. 19 and runs until noon Nov. 2, at which time potential bidders must have completed all registration requirements. Registration documents that were submitted for the Marshals’ previous bitcoin auctions are not valid for this auction; interested bidders must submit new registration documents to be considered for this auction.

Ulbricht, 31, was found guilty Feb. 5 on all seven counts in connection with his operation and ownership of Silk Road, a hidden website designed to enable its users to buy and sell illegal drugs and other unlawful goods and services anonymously and beyond the reach of law enforcement. He was sentenced to life in prison May 29.

Further details on the auction are available at www.usmarshals.gov/assets/2015/dpr-bitcoins.