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Silk Road Loot Goes Public: US Government To Sell Off $132.5M In Seized Bitcoin

The U.S. District Court for the District of Maryland announced its intention to sell a substantial amount of Bitcoin (CRYPTO: BTC), valued at approximately $132.5 million, which was seized in connection with the Silk Road scam investigation. The forfeiture involved two separate seizures of Bitcoin from Ryan Farace and Sean Bridges. The first seizure, involving 2874.904256 Bitcoin valued at around $129,251,164.54, occurred on Feb. 10, 2021, in Memphis, Tennessee. The second, comprising 58.742155166 Bitcoin worth approximately $3,304,833.65, was seized from Farace on May 11, 2021, in Arlington, …