The US Marshals Service has announced that it will be auctioning off approximately 2,170 Bitcoins seized in the course of various federal criminal, civil, and administrative cases, a press release stated March 5.
The auction will take place on March 19, 2018 from 8 a.m. to 2 p.m. EDT.
Bidders who wish to participate must fulfill the registration requirements by noon EDT March 14, complete with a $200,000 deposit.
The bitcoins will be offered in 14 different blocks: two blocks of 500 BTC, 11 blocks of 100 BTC, and one block of approximately 70 BTC. Winning bidders will be notified privately the same day as the auction.
The range of cases from which the bitcoins were seized is listed in an official notice posted on the US Marshals Service website. Among the cases listed is that of Shaun Bridges, the Secret Service agent who was convicted of stealing $800,000 in bitcoins in 2015.
The US Marshals Service has previously auctioned sums of Bitcoin seized in the course of civil and criminal proceedings. On Jan. 22, 2018, the agency sold 3,813 BTC, a sum that was worth over $40 mln by that day’s exchange prices.
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As we noted earlier, there has been some chatter that this auction's supply is responsible for some of the weakness in crypto today.