US government to sell 41,490 BTC connected to Silk Road

  • The US government sold 9,861 bitcoins on March 14th for a profit of over $215 million.
  • Of the more than 51,000 BTC seized in November, 41,490 BTC remain and will be sold in four installments this year.
  • Court documents show Bitcoin is connected to the darknet market Silk Road.

The US government, which recently said it sold 9,861 Bitcoins (BTC), is reportedly looking to liquidate another 41,500 BTC by the end of the year.

according to the document submitted The forensic sale is bitcoin seized from an entity connected to the notorious darknet marketplace Silk Road. This year we will be selling it in 4 parts.

US government sells $215 million worth of BTC

According to court documents, the U.S. government made a profit of more than $215 million when it sold 9,861.17 BTC out of 51,351 bitcoins seized last November.

The liquidation took place on March 14, and this particular tranche of BTC was confiscated by James Zong after he was arrested and arraigned for wire fraud related to Silk Road, according to court documents.

A total of 41,490 BTC remains from what was seized from Zhong, which the US government now plans to sell in four tranches.

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