FBI To Auction Off Confiscated Cyber Currency

  • Playlist
  • Download
  • Embed
    Embed <iframe src="http://www.npr.org/player/embed/321544971/321544972" width="100%" height="290" frameborder="0" scrolling="no">
  • Transcript

Authorities seized $17 million worth of bitcoins from the illegal online drug market Silk Road. This virtual liquidation could cause the value of bitcoins to fall but the FBI says everything must go.


Good morning. I'm Renee Montagne. Fancy cars, jet skis, cold, hard cash - all things the FBI has seized from drug dealers. Now they also have cyber currency, $17 million worth of bitcoins confiscated from the illegal, online drug market, Silk Road. So they're auctioning off the entire stash at bargain prices. This virtual liquidation could cause the value of bitcoins as a whole to fall, but the FBI says everything must go. It's MORNING EDITION.

Copyright © 2014 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.



Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.