In a landmark operation, German police have recently completed their largest cryptocurrency seizure ever, confiscating 50,000 bitcoin (BTC) valued at a staggering $2.17 billion. This major enforcement action links back to a 2013 piracy website operation that breached the Copyright Act, with its illicit proceeds later converted into bitcoin.
In an intriguing twist, one of the suspects involved in the case has voluntarily handed over the bitcoin to the Federal Criminal Police Office (BKA). While the investigation delves deeper into potential commercial money laundering activities, no formal charges have been brought against the individuals involved as yet.
As for the seized digital assets, the future of their utilization remains undecided, as stated in the police release. This significant seizure comes on the heels of the U.S. government’s 2023 confiscation of $216 million in bitcoin linked to the infamous Silk Road, a dark net market dismantled in 2013. Currently, the U.S. government’s bitcoin holdings are valued at around $9.5 billion, based on data from Arkham.