U.S. to Auction $117 Million in Bitcoin Seized from Silk Road Drug Trafficker
• U.S. plans to sell $117 million in Bitcoin seized from convicted Silk Road drug trafficker Ryan Farace
• Farace was sentenced to 54 months in prison for plotting to manufacture and sell Xanax on dark web marketplaces
• Farace received over 9,000 Bitcoin for illegal transactions on Silk Road, worth $364 million today
• Farace and his father tried to transfer Bitcoin abroad to hide assets from government
• U.S. successfully recovered 2,933 Bitcoin from Farace family, now valued at around $117 million