BRIEF UPDATE
- German authorities confiscated 50,000 bitcoins valued at more than $2.1 billion from a pirating operation in Germany.
German authorities confiscated 50,000 bitcoins valued at nearly $2.2 billion, allegedly purchased using funds related to copyrighted materials. This marks the largest bitcoin seizure by German law enforcement, as stated in a police announcement. Two individuals, one German and one Polish, are under investigation for managing a pirated materials operation and converting funds into bitcoin. Possible charges include unauthorized commercial exploitation of copyrighted works and money laundering. The suspects transferred the bitcoin to wallets controlled by German authorities voluntarily. It remains unclear how law enforcement will handle the cryptocurrency. Agencies involved in the investigation include the Dresden General Prosecutor’s Office, the Saxony State Criminal Police Office, and the Leipzig II Tax Office’s tax investigation unit.
