ANNOUNCEMENT: Well it has happened! Another Silk Road Darknet Market has spawned after the demise of Silk Road 2.0. The new site is called Silk Road Reloaded and is utilizing different technology than its predecessors therefore a new guide for Silkroad Reloaded will be coming soon. In the meantime Agora Marketplace is still alive and kicking bigger than ever with more listings than Silkroad 2.0.
The U.S. Marshals Service which was given the role of disposing off the virtual currency (Bitcoins) that were seized by the FBI after the black marketplace Silk Road was closed down in 2013 held their third auction on March 5. The bitcoins which were seized during the Silk Road investigation had a higher demand during their third auction as compared to the second auction which took place last December.
SecondMarket Inc. is one of the firms that have expressed interest to participate in this auction. There were 14 participants who participated in the bitcoin auction. Barry Silbert and SecondMarket Inc., Pantera Capital, and Kardashev Capital are some of the participants in the auction.
There were 10 blocks of 3000 and 2000 bitcoins that were available for bid. SecondMarket failed to win blocks in the bid, the managing director at SecondMarket said that they bid for every block but they were not successful at all. In the auction carried out last year, SecondMarket won and was anticipating doing the same in this third auction.
Although bitcoin prices have declined by almost 28% since the last auction, the interest in this currency remains healthy. However, it is anticipated that their prices will increase once the auctions are over.
A total of 173,991 bitcoins were seized during the Silk Road investigation. The U.S.Marshals have successfully sold a total of 130,000 through three different auctions. This means that there are over 44,000 bitcoins that are yet to be sold. The remaining bitcoins will also be sold via auctioning in the near future, however the actual dates have not been released.