The IRS has seized 185k+ bitcoins. Where the heck do they go?

Since 2013, the feds have seized and auctioned off ~$7B worth of bitcoin.

For the IRS, criminal sting operations stereotypically involve seizing and liquidating file cabinets and Ferraris.

The IRS has seized 185k+ bitcoins. Where the heck do they go?

But today, more than ever, they involve cryptocurrencies.

Since 2013, the feds have seized and auctioned off 185k+ bitcoins that — if all held onto — would’ve been worth ~$7B today.

Once liquidated, funds are split among the Treasury Forfeiture Fund or the Department of Justice Assets Forfeiture Fund, where Congress decides their fate.

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