2000 BTC Of Drug Money Going On Auction

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Drug Enforcement Administration (DEA) had been interested in Bitcoin (BTC) since its inception. The agency was the main player in taking down the Silk Road and apparently even one of its own agents was prosecuted for stealing the cryptocurrency in conjunction with the case.

The United States Marshalls are now preparing to auction over 2000 Bitcoin. Around 75% of those BTC going under hammer are from DEA cases.

Can I buy some?

The official sale will take place on March 19th, 8AM to 2PM Eastern US time and is open to all countries. According to an official press release “potential bidders must complete all registration requirements by noon EDT March 14,”. Also – “A $200,000 deposit is required to participate. Deposits will be returned to non-winning bidders.”

The offers will be accepted by email only. Available coins will be offered in chunks: “two blocks of 500 bitcoins, 11 blocks of 100 bitcoins and one block of approximately 70 bitcoins,”. The winner will be contacted on the 19th.

This is already a second large BTC auction by the US Marshals over the past couple of months, bringing the total amount of auctioned cryptocurrency to over $50 million. The previous one took place about a month ago and brought in close to $30 million from the auctioned 3600 BTC.

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