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The Feds Just Turned a $1.6 Million Profit on Seized Silk Road Bitcoin

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An anonymous bidder purchased 2,700 bitcoins worth about $1.6 million in an anonymous auction held by US Marshals Service on Monday. The Feds confirmed the sale to CoinDesk, a site that reports on the digital currency, and said that four bids were received in the auction.

The US Marshals announced earlier this month its plans to auction off some of the assets seized through criminal, civil, and administrative cases involving the dark web commerce market the Silk Road. The agency made 2,719 bitcoins available for purchase during the auction. – READ MORE

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