Approximately $132 million in Bitcoin will be auctioned off by the Feds as part of the seizure from dark web activity. ($129,251,164.54 + $3,304,833.65)
According to a notice filed by the US Department of Justice, Bitcoin seized from Ryan Farace and Sean Bridges in 2021 will be sold to the public as part of a forfeiture of assets.
Any person other than the defendants claiming an interest in the forfeited property must file a petition within 60 days of the first date of publication (January 10, 2024).
In 2018, Farace was charged by the US Attorney’s Office for the District of Maryland related to a plot to distribute alprazolam tablets, which sold under the brand name “Xanax.” The indictment alleged that Farace distributed the drugs through sales on the dark web in exchange for Bitcoin.
The DOJ described the case in 2018 as the first nationwide undercover operation against darkweb sales of illicit goods which involved the arrest of more than 35 individuals.
