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The United States Marshal Service said Wednesday that it plans to sell 50,000 bitcoins — worth nearly $12 million at current rates — that were seized from the computer of convicted Silk Road mastermind Ross Ulbricht.
The auction, which will take place early next month, is the third held in connection to the shutdown of the online drug market Silk Road. Earlier this month, Ulbricht was found guilty of a litany of charges related to the underground drug-dealing website that he operated under the pseudonym "Dread Pirate Roberts."
After a three-week trial in Manhattan, Ulbricht was convicted of seven charges including drug trafficking and money laundering, for which he could face life in prison when he is sentenced in May. Read more...
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