German Government Sells Seized Bitcoin BTC Worth Over 195000000 Arkham
2 mins read

German Government Sells Seized Bitcoin BTC Worth Over 195000000 Arkham

Germany has decided to auction off a significant amount of Bitcoin (
BTC
) that it seized during an investigation into an illicit movie streaming platform. According to Arkham, a blockchain analytics firm, the German government has transferred more than $195 million worth of Bitcoin to six different crypto exchanges, including Coinbase, Kraken, and Bitstamp, in the last two days.

“German Government Continues to Sell BTC: Over $195 million has been moved so far. Just recently, $65 million in BTC was sent to two likely exchange accounts, including Coinbase. Yesterday, the German government moved $600 million in BTC, with $130 million going to four probable exchange accounts, including Kraken and Bitstamp.”

Despite these large transfers to crypto exchanges, Germany still holds a substantial amount of Bitcoin, with 47,179 BTC valued at $3.06 billion. The Bitcoin being sold was confiscated during an investigation into
Movie2k.to
, an illegal streaming site that distributed over 880,000 pirated films between 2008 and May 2013.

The Dresden Public Prosecutor’s Office revealed that the operators of the site used the proceeds from their illegal activities to purchase Bitcoin. This seizure of Bitcoin is the largest of its kind in Germany, with nearly 50,000 BTC worth $2.17 billion confiscated initially. The current value of the seized assets is estimated at $3.25 billion.

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Please note that the opinions expressed on The Daily Hodl are not financial advice. Investors are advised to conduct their own research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. All transfers and trades are done at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets and is not an investment advisor. Keep in mind that The Daily Hodl participates in affiliate marketing.

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