Bitcoin

Billion

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In a landmark operation, investigators in Saxony, Germany, have <a href="https://www.stern.de/news/bundesweit-bisher-groesste-menge-an-bitcoins-in-sachsen-gesichert-34411688.html">secured</a> the largest amount of cryptocurrency ever confiscated in the nation.&nbsp;
Nearly 50,000 Bitcoins, with an estimated value of €2 billion, were provisionally seized in mid-January, as announced by the Dresden Public Prosecutor's Office and the Saxony State Criminal Police Office.&nbsp;
These assets are linked to the notorious former pirate portal Movie2K.to. The seizure marks a significant victory in the fight against digital piracy and money laundering.
<h2 id="a-historic-bitcoin-seizure">A historic Bitcoin seizure&nbsp;</h2>
The monumental seizure results from an extensive investigation targeting two individuals, aged 37 and 40, allegedly the masterminds behind Germany's prominent pirated copy portal, operational until May 2013.&nbsp;
Accused of distributing over 880,000 pirated films and running an illegal streaming service, these operators reportedly converted their illicit earnings into <a href="https://u.today/bitcoin-whales-boost-holdings-by-3-billion">Bitcoins</a>.&nbsp;
Authorities are probing the case under suspicions of copyright infringement and commercial money laundering.&nbsp;
The confiscated Bitcoins were willingly transferred by a suspect to a digital wallet under the Federal Criminal Police Office's management, signaling a cooperative turn in the ongoing investigation.
<h2 id="a-blast-from-the-past">A blast from the past&nbsp;</h2>
Movie2K.to was once a giant in the world of illegal streaming for German-speaking audiences. However, it faced its demise back in 2013 amid escalating legal pressures.&nbsp;
Surpassing traffic of giants like Amazon and Twitter, Movie2K.to was a hub for copyright infringement, leading to substantial Bitcoin earnings for its operators through advertisements and subscriptions.&nbsp;
Despite <a href="https://www.golem.de/news/razzia-oder-umzug-movie2k-ist-offline-1305-99525.html">going dark</a>, the platform remained in the crosshairs of German law enforcement, culminating in the 2019 arrest of three men associated with the site's operations.&nbsp;
The crackdown has since unraveled a complex web of money laundering, fraud, and intellectual property crimes, with links to the real estate sector where the ill-gotten gains were laundered into physical assets.
The utilization of the seized Bitcoins remains undecided for now.

€2 Billion in Bitcoin Seized by German Authorities

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