US Government To Auction Off $10 Million in Seized Bitcoin and Bitcoin Cash From Drug Bust

The seized bitcoin was worth only $500,000 at the time of the arrest.


The U.S. government will sell off confiscated bitcoins that were seized during an opioid drug case in the Utah area. The bitcoin that are now worth nearly $10 million after the recent spike in prices were worth only $500,000 at the time of the arrest.

The U.S. Attorney’s Office in Utah is now working to sell the 513.1490393 bitcoins (BTC), worth approximately $8.7 million at current prices. A similar number of bitcoin cash (BCH) is also going to be sold at the same time (512.9274588), having a value of nearly $949,000.

According to the court order:

“The BTC and BCH have been transferred to a government wallet. Due to the volatile market for cryptocurrencies, the BTC and BCH risk losing value during the pendency of the forfeiture proceedings … For these reasons, the United States seeks an interlocutory sale.”


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