Germany conducts the largest cryptocurrency confiscation in history

According to a statement by representatives of the German Federal Criminal Police Office (BKA), law enforcement agencies have confiscated a huge amount of cryptocurrency. According to preliminary data, they conducted the largest operation in history. Thus, they managed to get 50,000 BTC totaling $ 2.17 billion.

According to the local police, an old case was examined during the investigation in mid-January 2024. This is related to the operation of a large pirate site in 2013. It reportedly violated German copyright laws and other regulations. The platform was shut down by court order, but it became known that the company’s revenues were converted into bitcoins by its executives.

The statement said that one of the two suspects voluntarily transferred cryptocurrencies to Federal Criminal Police Department wallets. «A final decision on the further use and application of bitcoins has not yet been made,» the police said in a statement.

In 2023, the US government confiscated $ 216 million worth of BTC. The digital assets were linked to Silk Road activities. In July, the US authorities moved bitcoins previously confiscated from Silk Road. In several transactions, government-affiliated wallets transferred more than 9,824 BTC. In addition, in March 2023, the US government sold 9861 BTC for $ 215 million. This was only a fraction of the confiscated assets that remained at that time. According to Arkham INtelligence, the US government owns $ 9.5 billion worth of BTC.