German authorities can be missed around 45,000 Bitcoin tied to the movie Piracy Site Movie2K, meaning there could be another $ 5 billion worth of bitcoin that eventually could be obtained and sold.
Crypto Intelligence Platform Arkham Says On Friday it found more than 45,000 Bitcoin (BTC) who “still remains on the dominant in Movie2K,” which is worth “almost as much as seized” last year of Germany.
German police Took nearly 50,000 btc In January 2024, which was sold later that year, a few months before the cryptocurrency price went to almost double the amount.
The country was played due to the loss of billions of dollars worth of additional money by selling bitcoin when it happened, but prosecutors explained at the time that local laws dictated that they should quickly sell the PABAGU -change of possessions such as cryptocurrencies to avoid a risk of loss.
More than 100 purses holding potentially missed Bitcoin
Arkham said Bitcoin’s new stash, shown by its platform is 45,060 BTC, is “connected to previous film movements and addresses.”
“It is probably still under the control of the film2K operators. It has not been moved since 2019, and has been divided into more than 100 Bitcoin purses,” he added.
Arkham said German authorities did not mention the bitcoin it found, and it was not included in the sales that took place in the middle of the last year.
Bitcoin is just trading under $ 111,000, putting the current value of handles at $ 4.99 billion, worth nearly $ 5.6 billion to $ 124,128 Bitcoin’s peak in mid -August.
Germany has missed billions with sales in the mid-2024 year
German prosecutors sell 49,858 bitcoin at an average price of $ 57,900 to Different sales Covering June and July 2024 to make a total of around $ 2.8 billion.
A few months later, in mid-November, Bitcoin exceeded $ 90,000 and rally 75% from average sales price up to more than $ 100,000 in December, which appreciated Bitcoin sold to over $ 5 billion.
Police Bitcoin was taken In January of that year after two men they were investigating the suspicion of running the film2K who voluntarily transferred it to the authorities, allegedly buying Bitcoin with the funds they earned from the website.
Authorities said the seizure was “the most comprehensive seizure of Bitcoin by law enforcement agencies” made in Germany.
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Prosecutors began to sell Bitcoin in batches in many exchanges in June and confirmed that they had completed sales in mid-July, adding that legal needed for them to sell assets if there was a risk of losing at least 10% of their value.
Police need to prove the new bitcoin
It is not yet known how German authorities will react to Arkham’s findings, but if the police want to occupy Bitcoin, they will need to prove that it is tied to Movie2K.
Local laws have dictated that authorities need to prove to the court that Bitcoin is not prohibited origin – somehow tied to the defunct piracy site – before they allowed it to occupy it.
Even then, the police could not control Bitcoin until they found who controlled more than 100 purses that Arkham reported and shifted their ownership.
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