US Marshals Puts Up 660 Confiscated Bitcoins for Auction
Why would you go to Coinbase to buy BTC when Good ol' US Marshals is auctioning their sack of confiscated Bitcoins?
US Marshals reported it will hold an auction of confiscated digital assets totaling to 660 BTC. The "illegaly" obtained funds were confiscated in various criminal proceedings including the cases involving Theresa Tetley and Tomas Costanzo, that were .
Back in 2014
Under her pseudonym the ‘Bitcoin Maven‘, Theresa Tetley was running an unregistered multimillion dollar Bitcoin-fiat money transfering business Reportedly earning at least $300,000 annually. The U.S. Attorney's Office has contended that the ‘Maven’ exchanged between $6 and $9.5 mln from 2014 to 2017. During prosecution, she confessed to running the unregistered transactions service and receiving "blood money" allegedly involved in drug trafficking.
Tomas Costanzo
Was also discovered to have been running a "illegal" Bitcoin trading website and that he offered to sell Bitcoin mining equipment. He was also convicted of illegal possession of firearms and marijuana. A fruther investigation lead to a raid by the Federal Court that resulted in the seizing of illegal drugs that he possessed, his financial documents and Bitcoins transactions.
These two cases
Along with 32 other forfeitures which can be found in the report amount to 660 BTC which will be auctioned by the US Marshals on Nov. 5. Participants will have to register themselves no later than Oct. 31 and just like in the past auction, they have to deposit $200,000 in order to take part. The auction will be divided in two parts: the first made up of six sets of 100 BTC, and the second with 60 BTC. Once a bid is placed, the participants won't be able to change it or to view other bids.
Although no the first time such auction took place
It's surely an interesting one to write about. First time I've came accross such auction was on in a press release by the US Marshals Service on March 5th, 2018 when it announced the auctioning off approximately 2,170 Bitcoins seized in various federal criminal, civil, and administrative cases.
If you haven't yet heard about these auctions, at least now you know what they are doing with the confiscated digital assets. Making a living on them!
The big question is, who's bidding?
Sadly, that's a question we will most likely never get an answer for. I tried to figure out who bought the BTC in the first auction of 2k+ BTC but couldn't find any information on it the buyers.
The second question is what do they do with the money from the auction? Donating to charity would be cool.
I would bet my right arm that it's not going to charity. Probably using it to fatten their own pockets in one way or another.
That's not cool.
You write well, @runicar!
supp?
I agree with the author, @runicar!
meat
@runicar You can read ....
boy