• German police have seized 50,000 Bitcoins (BTC) price greater than $2.1 billion.
• The seizure is expounded to an investigation into two individuals who dedicated web site piracy in 2013.

Within the newest crypto information from Germany, police are reportedly in possession of fifty,000 Bitcoins (BTC) seized in mid-January as a part of an investigation into web site piracy.

Police have introduced that BTC is presently price about $2.17 billion, making it the biggest cryptocurrency seizure ever in Germany. revealed CoinDesk first reported this story.

Suspect “voluntarily transferred” BTC to police pockets

Police mentioned the seizure of BTC is expounded to an investigation into copyright infringement by means of an internet site launched in 2013. Regulation enforcement officers mentioned the investigation was being assisted by the Federal Felony Police Workplace (BKA), the FBI and a Munich-based forensic IT agency. We investigated the actions of internet sites operated till Could 2013.

The 2 males, a 40-year-old German and a 37-year-old Polish nationwide, are accused of concentrating on main German firms and commercially exploiting copyrighted works. A police assertion famous that unauthorized actions and pirated works violate the nation's copyright legal guidelines.

The suspects reportedly used the proceeds of the piracy to buy Bitcoin. The Dresden Basic Prosecutor's Workplace, the Saxony State Felony Police Workplace and the Leipzig Second Tax Workplace mentioned in a press release that the suspects “voluntarily transferred” the bitcoins to wallets offered by BKA.

Police mentioned a cash laundering investigation associated to the incident is ongoing. Authorities have additionally not reached a call on what to do with the seized bitcoins.

US authorities holds over 216,000 BTC

The German police announcement got here days after the US authorities notified the general public of its plans to promote greater than $130 million in BTC seized from people related to the shuttered darknet market Silk Street. US authorities have revealed plans to promote extra confiscated BTC associated to Silk Street in early 2023.

Information from blockchain safety and analytics firm Arkham present U.S. authorities presently maintain greater than $9.3 billion price of cryptocurrencies. This consists of 216,000 BTC, presently price over $9.1 billion. This cryptocurrency has been seized from numerous people over the previous few years.