The online auction of more than 44,000 BTC confiscated from Ross Ulbricht’s laptop will take place 5 November.
US Marshals Service (USMS) will hold the fourth and final auction of the Silk Road bitcoins in November. The remaining 44,341.55308401 BTC will be sold in 22 blocks: 21 blocks of 2,000 bitcoins and 1 block of just over 2,341 bitcoins, the press-release reads.
All interested parties have to register with the USMS to participate in the auction. The registration period will last from 19 October to 2 November. Bidders should provide the registration form, government issued photo ID and a deposit of $100,000 for each bid. The bid can be made for any number of the blocks at the same per bitcoin price.
The auction itself will take place 5 November from 8 a.m. to 2 p.m. EST. The registered participants will have to email their bid form during that period. The winner or winners are to be informed by USMS 6 November.
The government seized the digital funds contained in a wallet on Ross Ulbricht’s PC in October 2013. Since then three auctions have been hold: in June and December 2014 the sums of 30,000 BTC and 50,000 BTC respectively were put on sale, and the third auction of 50,000 BTC took place this March. The first portion was won by the venture capitalist Tim Draper, while the majority of the second auction's coins were bought by the Bitcoin Investment Trust bidding syndicate, leaving Draper only the remaining 2,000 BTC. During the third auction 50,000 bitcoins were split between three winners, who received 27,000 BTC, 20,000 BTC, and 3,000 BTC respectively. The only revealed winner was ItBit exchange which secured one block of 3,000 BTC.
Ross Ulbricht, the founder of Silk Road, who ran a notorious Darknet market under the alias of Dread Pirate Roberts, has been convicted of seven charges, including money laundering, drug trafficking and computer hacking, and sentenced in May 2015 to a life imprisonment.