Unknown Bidder Buys $1.6 Million in Bitcoin at US Government Auction

A winning bidder has claimed 2,700 BTC (worth $1.58m) at an auction held by the US Marshals Service (USMS).

AccessTimeIconAug 22, 2016 at 8:26 p.m. UTC
Updated Sep 11, 2021 at 12:27 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

A winning bidder claimed 2,700 BTC (worth $1.58m) at an auction held by the US Marshals Service (USMS) today.

representatives confirmed to CoinDesk that four bids were received in the auction, which took place between 13:00 and 19:00 UTC.

The event, by far the smallest held to date by the USMS, saw bitcoins confiscated in cases involving convicted Silk Road ringleader Ross Ulbricht and former federal agent Carl Force IV made available for sale.

In total, only five registered bidders sought to claim the 2,700 BTC block, the agency said.

The turnout was lower than observed in the most recent USMS auction, which took place last November. In that event, 44,000 BTC (worth $14.6m) was auctioned to 11 bidders.

As in previous auctions, USMS representatives said the winning bidder now has the ability to make themselves known, should they so chose.

Previous winners include bitcoin exchange itBit, investor Tim Draper and over-the-counter trading firm Cumberland Mining.

US Marshals badge via Shutterstock


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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.