As monitored by Arkham, the German government failed to seize $5 billion worth of bitcoins. In early 2024, German police seized 49,858 bitcoins from the operators of the pirate movie site Movie2K. However, in July 2024, the government sold these bitcoins for just $2.89 billion, with an average selling price of $57,900. Currently, Movie2K still has more than 45,000 bitcoins in its wallets, almost the same amount as the initial seizure. This amount of funds worth about $5 billion is scattered across about 100 wallets and has not been transferred since 2019. Considering that the German government has not commented on this at all, it is likely that these funds are controlled by Movie2K operators.
Movie2K, a movie piracy site that has been active since 2013, was arrested in 2019 and handed over about 50,000 bitcoins to the German government in January 2024 through a "voluntary transfer". The German government seized the shipment of nearly 50,000 bitcoins in early 2024 and transferred them.
Arkham: German government failed to seize $5 billion worth of bitcoin
2025-09-06 00:34:02
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