US to sell seized Silk Road Bitcoins http://www.bbc.co.uk/news/technology-27830566
The US government will auction $18m (£11m) worth of the virtual currency Bitcoin, which was seized by the FBI when it shut down the Silk Road online marketplace in October last year.
The site, which operated on the so-called “dark net”, traded in drugs and other illegal goods.
Payments were made via crypto-currencies, to ensure anonymity.
The Bitcoins were seized during the arrest of Ross Ulbricht, the alleged mastermind behind Silk Road.
The 29-year-old, who was known online by the pseudonym Dread Pirate Roberts, or DPR, is currently awaiting trial on narcotics trafficking, computer hacking and money laundering offences.
In a statement, the US Marshals Service, which is conducting the sale, said the 29,656.51306529 Bitcoins up for auction were those that had “resided on Silk Road servers”, but did not include the stash on Ross Ulbricht’s personal computers.
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