The German authorities may have missed about 45,000 Bitcoin coin associated with the film piracy site, which means that there may be $ 5 billion in bitcoin that can be seized and sold at the end.
Arkham Intelligence Platform He said On Friday, I found more than 45,000 Bitcoin (BTC), which is “still in Movie2K”, which deserves “nearly the amount that was seized” last year by Germany.
German police It seized nearly 50,000 BTC In January 2024, which he sold later that year, just months before the price of the cryptocurrency decreased to nearly twice the value.
The country has mocked billions of dollars in the loss of Bitcoin when it did, but at the time the prosecutors made it clear that local laws dictate that they should sell flying assets quickly like cryptocurrencies to avoid the risk of loss.
More than 100 governors carry Bitcoin
Archham said the new Bitcoin hideout, which its platform shows is 45,060 BTC, was “linked to the previous movements and addresses of the previous Movie2K.”
He added: “It is more likely that this is still under the control of the 2K film operators. It has not been transferred since 2019, and it has been divided through more than 100 Bitcoin portfolios.”
Arkham said that the German authorities did not mention the bitcoin they found, and were not included in the sales that occurred in the middle of the year.
Bitcoin is trading just less than $ 111,000, which puts the current value of property at $ 4.99 billion, which was worth about $ 5.6 billion at the peak of Bitcoin of $ 12,4128 in mid -August.
Germany missed billions with in mid -2024 sales
German prosecutors sold 49,858 Bitcoin with an average of $ 57,900 in various sales that extend in June and July 2024, with a total of about $ 2.8 billion.
Just months later, in mid -November, Bitcoin exceeded 90,000 dollars and regulated 75 % of the average selling price to more than $ 100,000 in December, which would estimate Bitcoin sold by more than $ 5 billion.
Police seized Bitcoin in January of that year after there were two men who were investigating on suspicion of operating the 2K film transferring money to the authorities, where the authorities claimed that the couple bought bitcoin using the money they obtained from the website.
The authorities described it as “the most comprehensive seizure of Bitcoin by law enforcement agencies” that were made in Germany.
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Prosecutors began selling Bitcoin in batches through many stock exchanges in June and confirmed that they had completed sales in mid -July, adding that it is necessary to legally sell assets if there was a risk of losing at least 10 % of their value.
The police will need to prove that the new bitcoin coin is illegal
It was not yet known how the German authorities will interact with the results of Arkham, but if the police wanted to seize Bitcoin, they will have to prove that they are linked to Movie2K.
Local laws dictate that the authorities must prove in the court that Bitcoin of illegal origin – in one way or another is linked to the collapsed piracy location – before allowing them to seize them.
However, the police will not be able to control Bitcoin until he finds those who control more than 100 wallets reported by Arkham and transferred their ownership.
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The post Germany Missed $5B Bitcoin in Piracy Case, Says Arkham first appeared on Investorempires.com.
