German Police Seizes Document 50,000 BTC Price $2.17B in Main Piracy Case

German police have seized 50,000 Bitcoin (BTC) value roughly $2.17 billion, marking the most important cryptocurrency seizure within the nation’s historical past.

The property had been confiscated throughout an investigation into a web site that violated the Copyright Act in 2013. The Dresden Public Prosecutor’s Workplace, the Saxony State Legal Police Workplace, and the Leipzig II Tax Workplace’s tax investigation division carried out the investigation, with help from the Federal Legal Police Workplace (BKA), the FBI, and a Munich-based forensic IT knowledgeable agency.

In keeping with a press release from the Dresden Public Prosecutor’s Workplace, the 2 people answerable for the pirate firm operated a number one German piracy portal till Might 2013. Proceeds from the enterprise had been allegedly transformed into Bitcoin.

One of many suspects voluntarily transferred the Bitcoin to the BKA as a part of the continuing investigation. Whereas no official fees have been filed, authorities are investigating potential business cash laundering offenses.

The police assertion emphasised that the investigation is ongoing and a remaining resolution relating to the utilization of the seized Bitcoin has but to be made.

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