Australian Government May Soon Auction $9 Million in Silk Road Bitcoins

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The bitcoin community could soon see another high-profile auction of bitcoins confiscated from users of the now-defunct online black market Silk Road.

Australian law enforcement officials are now in possession of 24,500 bitcoins (worth $9.4m at press time) following the conviction of their original owner, 32-year-old Warrandyte native Richard Pollard. Pollard was given an 11-year prison sentence today after pleading guilty to commercial drug trafficking, according to The Sydney Morning Herald .

Judge Paul Lacava told Pollard at the sentencing:

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