👮♀️German Police in the crypto Market👮♂️👮♂️
The German Federal Criminal Police Office (BKA) recently transferred $24 million in Bitcoin across two transactions to crypto exchanges Kraken and Coinbase. Additionally, another $30 million worth of BTC was moved to a new wallet, which has not been tagged as an exchange as of Tuesday. These transfers follow previous movements totaling $195 million in BTC sent to exchanges on June 19 and 2012.
Arkham CEO Miguel More suggested that moving funds to exchanges might signal an intention to sell the assets. However, given the substantial liquidity in the BTC market, this $24 million sale is relatively small and unlikely to significantly impact prices1.
Interestingly, the BKA previously seized almost 50,000 BTC, worth over $2 billion, from the operators of Movie2k.to, a film piracy website active in 20131. The BKA received the Bitcoin in mid-January after a ‘voluntary transfer’ from the suspects. 🚀
