In the latest update, it’s been revealed that the US administration is set to auction off $130 million worth of Bitcoins confiscated from the illicit marketplace Silk Road.
The United States government has officially announced its intention to sell around $130 million in Bitcoin that was seized in connection to the illegal online marketplace, Silk Road.
As per the published notification, the specifics of the Bitcoins slated for sale are outlined as follows:
- “2874.904256 Bitcoins with an approximate value of $129,251,164.54 seized from Ryan Farace and Sean Bridges in Memphis on February 10, 2021.
- 58.742155166 Bitcoins with an approximate value of $3,304,833.65 seized from Ryan Farace in Arlington on May 11, 2021.”
Despite this, Arkham data indicates no recent activity in the cryptocurrency wallets associated with Silk Road, with a remaining balance of 99,865 BTC valued at $3.97 billion.