Some 50,000 bitcoins (BTC) equivalent to more than USD 2 billion were seized this January by German authorities. This, after an open investigation into a movie piracy site.



As reported by the official site of the Saxony Police in Germany, the investigation was supported by the FBI and a computer forensics company based in Munich. It focused on two men who sold pirated copies of movies on a site identified as Movie2K.

The pirate portal had gained popularity in German-speaking countries. The site shut down in early 2013 due to legal issues. Because of this irregular situation, by 2020 the authorities announced the confiscation of USD $29.7 million worth of bitcoins that were in the hands of the site's operators.

It was then learned that administrators used the portal to make sales and received payments in fiat. They would then use the money to invest in cryptocurrency. That is why it was estimated that there was more money involved in the case.
BTC0.62%
POR1.29%
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