German Authorities Seize $2 Billion in Bitcoin from Copyright Crime Suspects

Authorities in Germany carried out their largest ever Bitcoin confiscation, taking over $2 billion worth mined through selling pirated digital works.

Key Insights

  • German authorities seize $2.17 billion worth of Bitcoin from two suspects
  • Police allege the 50,000 BTC were bought with proceeds from selling pirated works
  • Exact timing unclear but purchases likely made when Bitcoin was fractional of current price

BERLIN (MarketsXplora)- German police said on Tuesday they have confiscated around 50,000 bitcoins worth $2.17 billion at current market rates as part of a years-long investigation into two German and Polish individuals allegedly tied to copyright violations.

Authorities in the state of Saxony coordinated with tax officials and prosecutors to secure the digital coins from the accused, according to a statement.

Police allege the bitcoin were purchased with the proceeds of pirated works sold through websites operated by the suspects as early as 2013.

The exact timing of the purchases is unclear, but the large haul suggests some may have occurred when bitcoin was trading at fractional values compared to present day.

U.S. authorities had by October 2022 seized 210,429 bitcoins connected to assorted crimes, on-chain data show.

Germany has ramped up oversight of the crypto industry, prompting major exchange Binance to recently withdraw its application for a custody license there even as Coinbase reported a surge in data requests from German investigators last year.

Police said the accused voluntarily transferred the 50,000 bitcoins to official wallets, but that authorities have yet to decide how the assets may ultimately be utilized as the case proceeds.

Samson Ononeme

Meet Samson Ononeme, a dynamic writer, editor, and CEO of With a passion for words and a sharp business acumen, Samson captivates readers with captivating storytelling and delivers insightful market analysis. He is a trailblazer in the finance industry, empowering individuals with knowledge and shaping the narrative of money. Get ready to be inspired by his literary prowess and entrepreneurial leadership.

Leave a Reply