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German Authorities Seize $2.17 Billion in Bitcoin from Alleged Movie Streaming Scammers. 🇩🇪🪙
In a groundbreaking move, German law enforcement has confiscated an impressive 50,000 Bitcoin (BTC), equivalent to $2.17 billion, in a major crackdown on illegal movie streaming.
The focus of the investigation revolves around two individuals, a 40-year-old German and a 37-year-old Polish, suspected of operating a piracy portal until May 2013. Allegedly, the duo used the proceeds from their illegal activities to amass a substantial amount of Bitcoin. This marks the most extensive cryptocurrency seizure in Germany to date.
The roots of this operation trace back to the notorious illegal streaming site Movie2k.to, accused of distributing over 880,000 pirated films from 2008 to May 2013. The accused pair is said to have funded their Bitcoin holdings through advertising fees and subscriptions garnered during the site's operation.
As of now, the two suspects remain uncharged, and the investigation is ongoing. The possibility of an indictment leading to the investigation's closure has been indicated by Patrick Pintaske, spokesman for the Dresden Public Prosecutor General’s Office.
On January 31st, high-net-worth Bitcoin traders orchestrated significant transactions, moving a staggering $4.5 billion worth of Bitcoin. Notable among these was a whale transferring 35,049 BTC, valued at $1,518,020,170, from an unknown wallet to another.
Various transactions involving thousands of BTC occurred between unknown wallets and major exchanges like Coinbase, Gemini, Paypal, Binance, and Kraken.
Bitcoin is currently trading at $43K, reflecting a 2% decrease in the last 24 hours and a 12% decrease from its 30-day high on January 11th.
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