Germany may have missed $5B BTC linked to Movie2K
Germany may have missed seizing around 5 billion USD in Bitcoin linked to the piracy site Movie2K, according to crypto intelligence platform Arkham.
In January 2024, German authorities confiscated nearly 50,000 BTC, which were later sold the same year. At the time, Bitcoin’s price was significantly lower, and the sale was criticized as the cryptocurrency nearly doubled in value afterward. Prosecutors explained that local laws require the rapid sale of volatile assets like Bitcoin to prevent losses.
Arkham reports that 45,060 BTC associated with Movie2K remain in over 100 wallets, unmoved since 2019, likely still controlled by the site operators. The current value is approximately 4.99 billion USD, and at Bitcoin’s peak of 124,128 USD in August, it would have been nearly 5.6 billion USD.
These wallets were not included in the previous year’s seizure and sale, and authorities did not mention them. The situation highlights lost pricing opportunities due to rules mandating rapid disposal of confiscated cryptocurrencies.
