Bitcoin Exchange itBit Revealed as US Marshals Auction Winner

Stan Higgins
Mar 10, 2015 at 21:01 UTC
Updated May 18, 2015 at 14:00 UTC

New York-based bitcoin exchange itBit has revealed it was one of the three participants in the latest US Marshals Service (USMS) bitcoin auction to place a winning bid.

itBit is reporting it successfully secured 3,000 BTC, worth roughly $888,000 at press time. The amount was the smallest total accumulated among the three winners.

Two other bidders, the identities of whom are not public at this time, won 27,000 BTC ($7.9m) and 20,000 BTC ($5.9m) during the auction, respectively.

The disclosure comes shortly after the government agency announced the successful transfer of the 50,000 BTC auctioned earlier this month to the three winners.

The bitcoins were originally seized from Ross Ulbricht in October 2013 following his arrest in connection with the online black market Silk Road.