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Home»ADOPTION NEWS»German authorities seize 50,000 Bitcoins linked to piracy operation
ADOPTION NEWS

German authorities seize 50,000 Bitcoins linked to piracy operation

By Crypto FlexsJanuary 31, 20242 Mins Read
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German authorities seize 50,000 Bitcoins linked to piracy operation
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Policy • January 30, 2024 10:35 AM EST

Posted 1 minute ago In ~

German authorities have seized 50,000 bitcoins worth about $2.2 billion, which were allegedly purchased using funds linked to copyrighted material.

According to a police statement, the seizure was the largest seizure of bitcoins by German law enforcement.

Two men of German and Polish nationality are each being investigated on suspicion of managing a pirated copy operation and using the funds to purchase Bitcoin. The two could face charges including unauthorized commercial use of copyrighted material and money laundering.

The suspects voluntarily moved the bitcoins to wallets controlled by German authorities, and it is unclear what law enforcement will do with the cryptocurrencies.

German authorities assisting the investigation included the Dresden Prosecutor’s Office, the Saxony State Criminal Police and the tax investigation of the Leipzig II Tax Office, Saxony’s unified investigative agency.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.

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