WASHINGTON, Nov. 18 (UPI) -- The U.S. Marshals Service will auction 50,000 Bitcoins, worth about $19 million, seized from alleged Silk Road founder Ross Ulbricht. The December 4 auction comes just months after the Marshals Service's first Bitcoin auction of 30,000 Bitcoins.
The sealed-bid auction will split the 50,000 coins into several lots, including 10 blocks of 2,000 Bitcoins and 10 blocks of 3,000 Bitcoins. Bidders must put down a $100,000 or $150,000 deposit, and will have a six-hour window to submit sealed bids for each lot.