US authorities are reportedly ignoring the deadline set by Senator Cynthis Lummis, who supports cryptocurrencies, to explain the fate of the Bitcoin (BTC) seized from the now-defunct darknet marketplace Silk Road.

According to a Bloomberg report, sources familiar with the matter, who chose to remain anonymous, revealed that the U.S. Marshals Service did not meet Lummis’ deadline of January 31st to provide answers regarding the seized BTC.

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

The founder of Silk Road, Ross Ulbricht, was pardoned by former President Donald Trump last month after being sentenced to life imprisonment 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 assets, and the pardon granted by Trump does not affect this proceeding.

As stated in Lummis’ letter,

“Based on historical sales data, the Service has sold approximately 195,092 Bitcoin between 2014 and 2023, for a total of approximately $366.5 million.

At current market prices, these same Bitcoin would be worth over $18.9 billion, resulting in a loss of more than $18.5 billion in potential value for American taxpayers – an astounding 98% loss in unrealized value. This raises serious questions about the Service’s approach to managing and selling 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, marking a 4.2% decrease in the last 24 hours.