The United States Marshals Service announced Wednesday that it will auction 50,000 of Ross Ulbricht’s bitcoins—at present exchange rates, they’re worth around $11.7 million.
Ulbricht, 30, was found guilty earlier this month on seven charges include three drug counts. During his blockbuster trial in New York, he admitted to creating the Silk Road website but maintained that he was not the Dread Pirate Roberts. Instead, Ulbricht’s defense team argued he was “lured” back to run the site before later being arrested in San Francisco.
Federal authorities previously sold some of Silk Road’s bitcoins, but this marks the first auction since the guilty verdict. These bitcoins were seized as part of a wallet file found on Ulbricht’s computer during his arrest.
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