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German police have seized 50,000 Bitcoin, worth around $2.17 billion, linked to a piracy website accused of a copyright violation.
The action marks the largest cryptocurrency seizure in history for German law enforcement, the police said in a statement.
The investigation into the operations of the piracy website and two individuals was carried out by German police alongside the FBI, Federal Criminal Police Office (BKA), and a Munich forensic IT expert firm, the statement said.
Bitcoin Purchased With Proceeds of Crime
Two individuals, a 40-year-old German man and a 37-year-old Polish man, were accused of being behind the piracy website that operated until May 2013.
Authorities accuse the two of violating the Copyright Act and investigations into commercial money laundering are also ongoing.
The two individuals purchased Bitcoin with proceeds from the website, the police said. One of the individuals voluntarily transferred the Bitcoin to the authorities.
The authorities have not announced what they will do with the seized coins.
Last week, the US government filed a notice to sell $130 million BTC seized from the Silk Road darknet marketplace.
JUST IN: 🇺🇸 U.S. files notice to sell $130 million worth of #Bitcoin seized from Silk Road agent pic.twitter.com/Pm2ilMi4hd
— Bitcoin Magazine (@BitcoinMagazine) January 25, 2024
The US government also seized 120,000 BTC linked to the 2016 hack on the Bitfinex exchange. Data from Arkham shows that the total Bitcoin held by the US government is currently worth $9.22 billion.
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