{"id":41299,"date":"2021-04-23T14:34:33","date_gmt":"2021-04-23T11:34:33","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41299"},"modified":"2025-08-30T18:10:54","modified_gmt":"2025-08-30T15:10:54","slug":"bitgo-to-assist-u-s-authorities-with-custody-and-sale-of-confiscated-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitgo-to-assist-u-s-authorities-with-custody-and-sale-of-confiscated-bitcoin\/","title":{"rendered":"BitGo to assist U.S. authorities with custody and sale of confiscated Bitcoin"},"content":{"rendered":"<p>The U.S. Marshals Service (USMS) has awarded a contract to custody-services provider BitGo to store and sell confiscated cryptocurrency. The announcement is <a href=\"https:\/\/beta.sam.gov\/opp\/6283588329f746ae975970570fef0485\/view\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">on the site<\/a> of the General Services Administration.<\/p>\n<p><!--more--><\/p>\n<p>The value of the contract exceeds $4.5 million, and the term is not specified. The provider must take into account cryptocurrency forks and airdrops. BitGo&#8217;s specialists will also assist USMS in the technical aspects of the confiscation process of digital assets.<\/p>\n<p>The U.S. Marshals Service began seeking a contractor in 2020. Prior to that, the agency managed seized cryptocurrency in-house.<\/p>\n<p>In 2014, officials sold 30,000 BTC seized from the darknet marketplace Silk Road. All lots were acquired by venture capitalist Tim Draper.<\/p>\n<p>In February 2020, USMS auctioned 4,040.54 BTC. The coins were purchased by two bidders.<\/p>\n<p>In March 2021, authorities sold at auction <a href=\"https:\/\/forklog.com\/en\/news\/us-authorities-sold-0-7501-btc-at-auction-above-market-price\">0.7501 BTC<\/a> for $53,104, which at the time was roughly $9,000 above the market price.<\/p>\n<p>In April, reports indicated that Galaxy Digital, led by Mike Novogratz, <a href=\"https:\/\/forklog.com\/en\/news\/galaxy-digital-in-talks-to-acquire-crypto-custodian-bitgo-reports-say\">to acquire<\/a> BitGo.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Marshals Service (USMS) has contracted with BitGo, a custody-services provider, to store and sell confiscated cryptocurrency.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[194,1172,26,1613],"class_list":["post-41299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitgo","tag-seized-bitcoins","tag-usa","tag-usms"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=41299"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41299\/revisions"}],"predecessor-version":[{"id":41300,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41299\/revisions\/41300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=41299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=41299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=41299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}