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German police breaks previous record with $2.1 billion Bitcoin seizure

Bitcoin (DALL·E 3-generated image)
Bitcoin (DALL·E 3-generated image)
As part of an ongoing investigation that involves German authorities, an unnamed forensic IT company from Munich, and the FBI. Roughly 50,000 bitcoins were seized from two people suspected of money laundering and more. The two individuals allegedly got these funds while in charge of an illegal file-sharing platform.

The latest piece of crypto news that comes from Germany shows that the hand of law can be extremely long and, location-aside, it can also reach back in time over a decade in some cases. Earlier this week, the German authorities announced the largest crypto seizure in the country so far, with roughly 50,000 bitcoins involved which currently have a value of over $2.1 billion. However, it should also be kept in mind that this is part of an ongoing investigations and one of the suspects transferred the amount voluntarily to a wallet controlled by the authorities.

While not mentioning any names, the German authorities stated that the two suspects, both male (a 40 yo German and a 37 yo Polish), were responsible of leading a German company that was involved in illegal file sharing. The paid subscriptions and other forms of monetization used by this unnamed service, which was shut down in 2013, generated an amount of money that was used to buy the aforementioned bitcoins.

The ongoing investigation, in which the two individuals mentioned earlier are being suspected of laundering money and unlawful commercial exploitation of works protected by the Copyright Act, involves the 2004-founded Integrated Investigation Unit from Saxony, a Munich-based forensic IT company, as well as the German Federal Criminal Police Office alongside the Federal Bureau of Investigation.

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Disclaimer: The information reported here should not be used as a basis for any personal investment decision. Notebookcheck does not offer cryptocurrency, NFT, or other trading, investment, or financial advice.


Integrated Investigations Unit in Saxony (German, translated via Google Translate)

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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2024 02 > German police breaks previous record with $2.1 billion Bitcoin seizure
Codrut Nistor, 2024-02- 1 (Update: 2024-02- 1)