The U.S Marshals Service (USMS), government law enforcement agency, has announced to auction more than 4,040 confiscated Bitcoins.

According to the announcement, the online auctioning will happen on Feb 18 from 8: 00 AM EST until 2:PM EST. Bidder registration is open from Feb 3 to Feb 12. All interested persons are required to make an initial deposit of $200,000 in order to take part in the auctioning.

Per the rules of the exercise, the authority will refund the deposits of bidders who would not be able to win. They promised to do that within 5 business days after transferring the bitcoins to the winner.

The authorities noted that the BTC for the auction were seized in various federal criminals, civil and administrative proceedings. At press time, the amount of BTC involved in the auctioning exercise is worth around $137.4 million.

The announcement of winners is schedule at 5:00 PM EST, according to the publication. However, the time may be extended based on the number of participants and complexity of the review process.

The upcoming auction will be divided in parts. It will specifically be separated into series, with 2,500, 1,000, 500 and 40.54069820 BTC each.