US Marshals: One Auction Bidder Claimed All 30,000 Silk Road Bitcoins

A single, undisclosed bidder has won all 30,000 Silk Road bitcoins, according to the US Marshals Service.

AccessTimeIconJul 1, 2014 at 8:45 p.m. UTC
Updated Sep 14, 2021 at 2:06 p.m. UTC

UPDATE (2nd July 14:07 BST): Venture capitalist Tim Draper has been revealed as the winner of last Friday’s USMS bitcoin auction.


The US Marshals Service (USMS) has announced that a single, undisclosed bidder claimed all of the roughly 30,000 bitcoins seized from online black market Silk Road and sold in its recent auction.

The winning bidder outbid all other parties for the 10 auction blocks, according to the USMS. Further, the bitcoins have already been transferred to the winner, according to Blockchain.

The USMS previously said that it would begin notifying bidders as to whether they had secured any of the blocks on 30th June. The auction took place on Friday, 27th June over a 12-hour span.

In a statement, the USMS said:

"The US Marshals Bitcoin auction resulted in one winning bidder. The transfer of the bitcoins to the winner was completed today."

The auction was structured into 10 blocks, with the first nine consisting of 3,000 BTC and the last one featuring 2,656.51306529 BTC.

Results trickle in

The news follows an earlier announcement from the USMS on 30th June, when the agency said that 45 registered bidders took part in the process. At the time, the federal agency didn’t have a clear number on the final amount of winning bids.

The USMS released the auction date and procedural details last month. At the time, the federal agency outlined how participants could express interest in the roughly $18 million worth of bitcoin.

Since then, a number of key bidders, including SecondMarket founder and CEO Barry Silbert, have outlined their participation in the auction. Silbert later announced via Twitter that his auction syndicate, which consisted of 42 bidders for a total of 186 bids, was outbid on every bitcoin block.

The syndicate formed just part of a broader pool of known or possible bidders, a number of which were inadvertently released by the USMS. Other bidders included Pantera Capital and Bitcoin Shop, both of which have confirmed that they did not enter the winning bid.

Image via Wikipedia 

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Crypto Derivatives Exchange Bybit to Settle Options Contracts in USDC

The company will be using the second-largest stablecoin by market cap for its relative stability.

CoinDesk - Unknown
2
CoinDesk - Unknown
Polkadot Chief Gavin Wood Announces Blockchain Governance Upgrade

The platform's “Gov2” is set to launch on Kusama “imminently,” following a final professional audit of its code, he said.

CoinDesk - Unknown
3
CoinDesk - Unknown
What It’s Like to Work as a DAO Bounty Hunter

Meet "T Wells," a 30-something former educator who, in 2021, began working for “bounties” (or gigs) in the DAO ecosystem.

CoinDesk - Unknown
4
CoinDesk - Unknown
Luna (LUNA) vs. Luna Classic (LUNC): What Is the Difference?

After the implosion of the Terra network and its tokens, the community approved a plan to relaunch the project, leaving many confused about the new names. Here’s a guide to the two different Terra blockchains and which tokens belong to which.

CoinDesk - Unknown