• The German government has sold over $195 million of Bitcoins seized from pirated movie website operators.
  • Bundeskriminalamt (BKA) seized a total of 50,000 Bitcoins from Movie2k.to, a film piracy website that was active in 2013.
  • The government still holds a substantial balance of Bitcoins worth $3.05 billion.

The German Federal Criminal Police Office (BKA) has sold over $195 million in Bitcoin seized from the pirated movie website Movie2k.to, recent reports reveal. The BKA is liquidating part of its largest-ever cryptocurrency seizure, totalling 50,000 Bitcoins, valued at approximately $2.12 billion at the time of seizure in February 2024.

Crypto journalist Laura Shin reported that the BKA began selling Bitcoin on June 19, transferring $600 million worth of BTC, including $130 million to exchanges like Kraken and Bitstamp, and another $65 million to Coinbase the following day. The BKA still holds a substantial balance of $3.05 billion in BTC.

Crypto analyst Daan Crypto Trades noted a significant drop in Bitcoin’s value during the government’s Bitcoin transfer, with the price falling by $500. Currently, Bitcoin is trading at $64,713, showing a daily dip of 0.63% and a weekly decrease of 2.94%.

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