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.


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.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC