Police seize bitcoins worth €2 billion

Dopious

Dopious

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German authorities have seized 50,000 bitcoins, worth some €2 billion, in what could be the largest seizure to date in the country.

German law enforcement authorities said Tuesday they seized nearly €2 billion ($2.17 billion) worth of bitcoins in the eastern state of Saxony.

An investigation is still underway and no charges have yet been filed, police said.

The Saxon State Criminal Police Office said the seizure of 50,000 bitcoins could be the biggest to date of its kind in Germany.

https://www.polizei.sachsen.de/de/MI_2024_103935.htm
 
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I heard somewhere those were earned by pirated film streams and stuff... owners if they considered 3rd world country they d be safe
 
Thats huge amount of BTC that can be use to manipulate the current BTC price or its just a FUD.
 
They are talking about a streaming website called movie2k.to which has been operated until May 2013. The bitcoins were worth a lot less back then but still a big sum. Another interesting note here is that the owners of the website did give the authorities the bitcoin by themselves. The authorities did not "seize" the bitcoin like the article says. Not sure why they frame it like that.
 
And the craziest thing about this will probably be that they will have to pay tax on all this money that they've recieved when they operated the site back from 2008 - 2013, yet they will most likely not be able to use their "seized" money for that. So imagine this: You make a couple millions of dollars for 5 years, then it gets seized (and you will definitely not get it back), you get thrown in jail, you get out of jail and now have to pay over millions of dollars in tax money for money that the government already took from you. Crazy world we live in.
 
SOCOM said:
Curious to hear how that sum was acquired.
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According to the police:

"The Bitcoins were seized after the accused voluntarily transferred them to official wallets provided by the BKA. This means that a final decision has not yet been made about the utilization of the Bitcoins."

"The ongoing investigations into suspected unauthorized commercial exploitation of copyrighted works under the Copyright Act and subsequent commercial money laundering, among other things, are directed against two people responsible (m, 40 years old, German; m, 37 years old, Polish) of a leading German company until the end of May 2013 Pirated copy portals. They are said to have purchased Bitcoins with the proceeds."
 
RoiBox said:
According to the police:

"The Bitcoins were seized after the accused voluntarily transferred them to official wallets provided by the BKA. This means that a final decision has not yet been made about the utilization of the Bitcoins."

"The ongoing investigations into suspected unauthorized commercial exploitation of copyrighted works under the Copyright Act and subsequent commercial money laundering, among other things, are directed against two people responsible (m, 40 years old, German; m, 37 years old, Polish) of a leading German company until the end of May 2013 Pirated copy portals. They are said to have purchased Bitcoins with the proceeds."
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There is always a narrative being pushed with these stories.
 
RoiBox said:
According to the police:

"The Bitcoins were seized after the accused voluntarily transferred them to official wallets provided by the BKA. This means that a final decision has not yet been made about the utilization of the Bitcoins."

"The ongoing investigations into suspected unauthorized commercial exploitation of copyrighted works under the Copyright Act and subsequent commercial money laundering, among other things, are directed against two people responsible (m, 40 years old, German; m, 37 years old, Polish) of a leading German company until the end of May 2013 Pirated copy portals. They are said to have purchased Bitcoins with the proceeds."
Click to expand...

If they made 2B doing that then my goodness. How greedy do you have to be? They thought nobody was going to notice?
 
So theft is theft whether you are stealing it (https://thehackernews.com/2024/01/italian-businesses-hit-by-weaponized.html) or "seizing" it.
 
BobbyBummbleBee said:
Its all digital now... is anything really being printed.
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doesn’t matter. What I am saying is the govt itself commisions currency. They can create/remove value from the economy as they want (but then comes the inflation etc.. ). They don’t have to steal someone’s money specifically.
 
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