Silk Road Creator’s $11 Million Bitcoin Fortune to be Auctioned Off

Online drug dealer, Ross Ulbricht, was sentenced to life in prison but it his fortune is free and available to whomever wants it.

The Silk Road creator brokered over $200 million worth of undetected online drug dealings and apparently saved $11 million in bitcoins. US Marshals say that they discovered the fortune on a computer found after Ulbricht’s home was raided.

The 32-year-old coughed up his fortune at sentencing and granted federal authorities the right to auction it off.

Between October 19 and November 2, a total of 44,341.55308401 bitcoins will be auctioned off. Although the value of each constantly changes, one bitcoin is currently worth an estimated $250.00.  Bidders must place a deposit of $100,000 to even be apart of the auction.

According to the Daily Mail,

Prosecutors say he collected $18 million in bitcoins through commissions on drug sales on a website containing thousands of listings under categories like ‘Cannabis,’ ”Psychedelics’ and ‘Stimulants.’ They said he brokered more than one million drug deals worth over $183 million while he operated on the site under the alias Dread Pirate Roberts — a reference to the swashbuckling character in ‘The Princess Bride.’

Silk Road operated for more than two years, allowing users to anonymously buy drugs and other illicit goods and generating over $214 million in sales in the process, prosecutors said.