According to a recent report by Bloomberg, it is said that US authorities are ignoring the deadline set by Senator Cynthia Lummis to provide an explanation about the seized Bitcoin from the defunct darknet marketplace Silk Road.

Anonymous sources familiar with the matter have revealed that the U.S. Marshals Service failed to meet the deadline of January 31st, which was set by Lummis to answer questions regarding the seized BTC.

Lummis inquired about the specific amount of BTC held by the government, the plan for the coins, and whether there were any specific management protocols in place for them.

Silk Road’s founder, Ross Ulbricht, was granted a pardon by President Donald Trump last month, years after receiving a double life sentence for his involvement in operating an underground online marketplace that facilitated the sale of illegal drugs.

When Silk Road was shut down in 2013, US authorities confiscated laptops from Ulbricht that contained hundreds of thousands of Bitcoin. Ulbricht agreed to forfeit these coins in a separate proceeding that remains unaffected by Trump’s pardon.

According to Lummis’ letter, “Based on historical sales data, the Service has sold approximately 195,092 Bitcoin between 2014 and 2023, totaling around $366.5 million. At current market prices, these same Bitcoin would be worth over $18.9 billion, resulting in an unrealized value loss of more than $18.5 billion for American taxpayers – a staggering 98% loss in potential value. This pattern raises serious questions about the Service’s approach to managing and liquidating Bitcoin.”

As of now, the U.S. Marshals have not responded to Lummis’ letter.

At the time of writing, BTC is trading at $94,752, experiencing a 4.2% decrease within the last day.