Germany Seizes 50,000 BTC Connected to Piracy
31 Jan, 2024 ● Kripto novosti
German authorities in Saxony reported seizing approximately 50,000 Bitcoin related to a copyright violation investigation.
On Jan. 30, Saxony police coordinated with tax authorities and prosecutors to secure the BTC, linked to two individuals from Germany and Poland.
The Bitcoin, valued at about $2.17 billion, was allegedly purchased with proceeds from pirated content in 2013.
Authorities reported that the accused voluntarily transferred the Bitcoin to official police wallets.
The final decision on using the seized Bitcoin remains pending.
The timing of the Bitcoin purchase suggests acquisition when its price was low. U.S. authorities have seized over 210,000 BTC in total connected to various crimes.
Coinbase reported numerous German authority information requests, and Binance withdrew its cryptocurrency custody license application in Germany, reflecting regulatory changes.
Sources:
https://cointelegraph.com/news/german-authorities-seize-50k-bitcoin
