The US Government auctions off 29,656 BTC previously connected to Silk Road

On June 27, 2014, the United States government conducted a historic auction, selling off 29,656 bitcoins that had been seized in connection with the Silk Road, an online black market platform. The bitcoins were auctioned by the U.S. Marshals Service (USMS) and attracted significant attention from both individual and institutional bidders.
 

The auction took place between 6 am and 6 pm EST, and the bidding process saw participation from 45 bidders who collectively made 63 bids. The USMS had set strict rules for the auction, including a requirement that each bidder place a refundable deposit of $200,000 USD to register for the auction.
 

The bitcoins were auctioned off in 9 blocks of 3,000 bitcoins each, and one block of the remaining 2,656.51306529 bitcoins. The identity of the winning bidder was initially kept anonymous, and the final price paid for the bitcoins was not disclosed.