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Once again seized 10 million U.S. dollars in BTC and BCH, the U.S. government plans to dispose of it as soon as possible

The U.S. government plans to sell bitcoin seized in an opiate drug case. Given the recent increase in the price of cryptocurrencies, the value of this portion of bitcoin has reached nearly $ 10 million.

The Utah State Attorney's Office hopes to sell the 513.1490393 bitcoin as soon as possible, according to Coinmarketcap data, the bitcoin is worth $ 9.07 million. There will be another batch of the same amount (512.9274588) of bitcoin cash (BCH) to be sold, worth $ 952,000.

The court ordered:

These BTC and BCH have been transferred to government wallets. Due to the volatility of the cryptocurrency market, these BTCs and BCHs may devalue forfeiture and litigation ... Therefore, the U.S. government hopes to adopt a form of intermediate (announced in the proceeding).
The decree further states that the cryptocurrencies will be sold through one or more commercial crypto currency exchanges and converted into U.S. dollars (up to a maximum of 50 currency per exchange) to prevent financial losses or fraud. The proceeds from the sale will be deposited in the interim accounts with the funds seized by the Ministry of Finance.

According to the Tribunal's documents, on 12 December, the prosecutor in charge of the case filed for the sale of seized cryptocurrencies, District Judge Dale Kimball agreed on the same day.

The Aaron Shamo, from Utah, accused of transporting millions of dollars of opium from Salt Lake City in November 2016 is the worst of the kind in the country.

Shamo and his accomplice Drew W. Crandal are accused of selling fake prescription drugs in the dark market. The bitcoin seized was worth less than half a million dollars when ShamoB was arrested.

As early as 2015, the U.S. government has held several auctions of bitcoin that were seized while investigating Silk Road, the dark market. In September of this year, after ending a lengthy lawsuit with Silk Road operator Ross Ulbricht, who tried to get it back, the government finally secured the proceeds of the auction.

In June, the South Korean government also auctioned 216 bitcoins seized from criminal investigations.