German Authorities Seize $2.17 Billion in Bitcoin from Alleged Illegal Movie Streamers
German law enforcement authorities have confiscated approximately 50,000 Bitcoin (BTC) worth $2.17 billion as part of an investigation into an illegal movie streaming website. The probe is focused on two individuals suspected of operating the piracy portal and using the proceeds from their illicit activities to purchase Bitcoin.
Investigation Details
The Dresden Public Prosecutor’s Office is leading the investigation, which targets two responsible persons: a 40-year-old German man and a 37-year-old Polish man. The individuals are believed to have operated the German pirated portal until May 2013. Charges include commercial unauthorized exploitation of copyrighted works and subsequent commercial money laundering.
Largest Seizure in Germany
The assets were secured after one of the suspects voluntarily transferred the BTC to a digital wallet provided by the Federal Criminal Police Office (BKA). This seizure is reported to be the largest of its kind in Germany to date.
Movie2k.to and Bitcoin Connection
Last year, the Dresden Public Prosecutor General’s Office announced an investigation into the operators of Movie2k.to, an illegal streaming site that allegedly distributed over 880,000 pirated films between 2008 and May 2013. The suspects are accused of using advertising fees and subscriptions to acquire substantial amounts of Bitcoin.
Charges Pending
Patrick Pintaske, spokesperson for the Dresden Public Prosecutor General’s Office, confirmed that the two men have not yet been charged. If an indictment is brought forward, the investigation will be concluded.
Hot Take: German Authorities Crack Down on Illegal Streaming
German authorities have taken a significant step in combating illegal movie streaming by seizing a massive amount of Bitcoin from alleged operators of a piracy portal. This action sends a strong message that law enforcement is actively targeting those who engage in copyright infringement and money laundering through cryptocurrency. With the growing popularity of digital assets, it is crucial for authorities to stay vigilant and adapt their strategies to combat emerging forms of cybercrime. The seizure of $2.17 billion in Bitcoin marks a major victory against online piracy and demonstrates the potential of blockchain technology in aiding criminal investigations.
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