dc selling bitcoins

[cheka.]

can someone explain or speculate on how dc can get people's bitcoins in criminal, civil, and administrative cases?

http://www.texaspolicenews.com/default.aspx?act=Newsletter.aspx&category=News+1-2&newsletterid=62680&menugroup=Home

August 08, 2016 Lynzey Donahue, Office of Public Affairs

U.S. Marshals Office of Public Affairs

U.S. Marshals to Hold Bitcoin Auction

Approximately 2,700 bitcoins from 12 cases to be sold

Washington - The U.S. Marshals are auctioning one block of approximately 2,700 bitcoins in connection with various federal criminal, civil and administrative cases.

To register, potential bidders must complete all registration requirements by noon EDT Aug. 18. A $100,000 deposit is required to participate. Deposits will be returned to non-winning bidders.

The auction will take place during a 6-hour period Aug. 22 from 8 a.m. until 2 p.m. EDT. Bids will be accepted by email from pre-registered bidders only.

The winning bidder will be notified Aug 22. Further details on the auction are available at www.usmarshals.gov/assets/2016/bitcoinauction.

Additional information about the U.S. Marshals Service can be found at http://www.usmarshals.gov.

[osoab]

Where did they keep them? Were they on the exchange that gave everyone a 35% haircut?

[mamboni]

Hmmm....I smell a rat. Bitcoin looking vulnerable, no?

[mamboni]

Where did they keep them? Were they on the exchange that gave everyone a 35% haircut?1. Julio's flash drive

2. Haircut was in the price per Bitcoin. Haircut applies.

[Glass]

civil asset forfeiture. Guilty before proven innocent. Plea deals to hand over keys for reduction in their threatened 100 year sentences. Force, threats intimidation duress. The usual methods of many thousands of years.

[madfranks]

2700 BTC is roughly one percent of one day's volume. Nothing that will upset the markets.

[madfranks]

Hmmm....I smell a rat. Bitcoin looking vulnerable, no?

It's really no different than when the government confiscated NORFED's physical gold and silver and auctioned it off.

[Shami-Amourae]

A lot of Silk Road activity was done with Bitcoins. The Feds confiscated a lot of Bitcoins when it was clamped down on.

[Glass]

A lot of Silk Road activity was done with Bitcoins. The Feds confiscated a lot of Bitcoins when it was clamped down on.

yes but having the wallet is one thing. Getting it open is another.

[cheka.]

can someone give an example of a civil case where dc seizes bitcoin? also admin case? i understand the criminal -- like seizing cash from drug dealer suspects....but the other two have me stumped

[Glass]

can someone give an example of a civil case where dc seizes bitcoin? also admin case? i understand the criminal -- like seizing cash from drug dealer suspects....but the other two have me stumped



Thursday, January 16, 2014
Preet Bharara, the United States Attorney for the Southern District of New York, today announced the forfeiture of approximately 29,655 Bitcoins (which, at today’s Bitcoin exchange rate, are worth approximately $28 million) that were seized from the Silk Road server, as well as the forfeiture of the Silk Road hidden website. The Silk Road hidden website and the Bitcoins that were forfeited yesterday had been seized in connection with the civil forfeiture action previously filed in Manhattan federal court on September 30, 2013, seeking the forfeiture of all assets of Silk Road, including its website and all of its Bitcoins because those assets allegedly were used to facilitate money laundering and constitute property involved in money laundering. In addition to the civil action, a criminal Complaint against Ross William Ulbricht, a/k/a “Dread Pirate Roberts,” a/k/a “DPR,” a/k/a “Silk Road,” the alleged owner and operator of the Silk Road hidden website, was filed in September 2013 in Manhattan federal court charging him with one count of narcotics conspiracy, one of count of conspiracy to commit computer hacking, and one count of money laundering conspiracy. The forfeiture order was signed yesterday by United States District Judge J. Paul Oetken.

Department of Justice web site Media Release (https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-forfeiture-28-million-worth-bitcoins-belonging-silk)

DOJ Web Site: Partial Default Judgement and Order of Forfeiture in favor of DOJ
(https://www.justice.gov/usao/nys/pressreleases/January14/SilkRoadForfeiture/Silk%20Road%20Partial%20Default%20Judgment%20and%2 0Order%20of%20Forfeiture.pdf)
All crimes are commercial in nature according to US code. As a result, civil forfeiture can apply.

[Neuro]

Hmmm....I smell a rat. Bitcoin looking vulnerable, no?

That is the exact purpose of this highly publicized event, to make Bitcoin look vulnerable...

[Joshua01]

That is the exact purpose of this highly publicized event, to make Bitcoin look vulnerable...

It matters not to me. I hope everyone invested in BTC turns a handy profit. It's just not for me. I need to see and hold my wealth....it helps me sleep