Confiscated Bitcoin to be sold at auction

An unprecedented event is set to take place as early as November. Confiscated Bitcoin will be put up for auction. The equivalent of the digital currency at the current exchange rate exceeds $4 million.

The auction will be conducted by US Marshals in collaboration with a specialised platform. The sale will be held in a closed format, accessible only to a limited circle of participants.

The organisers plan to sell over 600 Bitcoin. The digital assets were seized from individuals and legal entities by US authorities by court order. The cases fell into the categories of civil, federal, and administrative. A number of them involved money laundering using Bitcoin.

How the auction will proceed

The auction is scheduled to take place on 5 November. Registration closes on 31 October.

Participants are required to deposit $200,000 into the organisation's account. The auction will consist of two parts. Additionally, these are planned to be divided into six blocks, with 60 Bitcoin sold during each block.

Participants will not be able to view other buyers' bids. There is also no option to replace one's own bid with another.

It is worth recalling that the Marshals previously sold over 2,000 Bitcoin at a closed auction several months ago, as well as 3,600 Bitcoin at the beginning of the current year.

The total value of the sales exceeded $50 million.

The platform where the auction will be held has previously obtained an SSL certificate confirming the resource owner's details and authority.  Such certificates are issued by specialised sites; for example, in Ukraine, this is https://regery.com.ua/ru/domains/zone/net, where this and other services can be ordered. The transaction is completely secure.