The United States has announced plans to sell approximately $117 million worth of Bitcoin seized from drug traffickers who operated on the now-shuttered Silk Road dark web marketplace.
Confiscation notices have been published online since earlier this month, with the government saying it plans to “dispose” of the cryptocurrency. The notice follows the sentencing of Ryan Farace, 38, and his father, Joseph Farace, 72, both of Maryland, on charges of money laundering conspiracy earlier this month.
“The United States hereby gives notice of its intention to dispose of the forfeited property in such manner as the Attorney General of the United States may direct,” it reads, giving people who are not defendants in the case 60 days (beginning January 10, 2024). File a petition asserting an interest in an asset.
“After the disposition of the court on all ancillary petitions filed, or, if no such petitions have been filed, after the expiration of the period specified above for the filing of such ancillary petitions, the United States shall have clear title to the property and shall: You can take it.
“Ensuring proper title to subsequent purchasers or transferees,” the notice reads.
This story is ongoing and will be updated with additional details.
