Unprecedented bitcoin seizure in Germany linked to online piracy group

Police in Germany seized nearly 50,000 bitcoin worth roughly $2.1 billion. 

The authorities alleged that the bitcoin is tied to a piracy site that violated the Copyright Act back in 2013. According to a police statement, a German and Polish man were found responsible for the alleged money laundering and reportedly bought bitcoin with the proceeds. 

The Tuesday statement marks the largest bitcoin seizure by German authorities. 

The future of the assets remain uncertain, though the police statement clarified that a suspect “voluntarily transferred them to official wallets provided by the BKA.”

“A final decision has not yet been made about the utilization,” the statement…

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