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Germany: Police seize bitcoins worth EUR2 billion

Roshni Majumdar
01/30/2024January 30, 2024

German authorities have seized 50,000 bitcoins, worth some EUR2
billion, in what could be the largest seizure to date in the country.

  
       
https://p.dw.com/p/4bpU0
A picture showing a bitcoinThe suspects transferred the bitcoins to
German police, and an investigation is ongoingImage: Benoit Tessier/
REUTERS
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German law enforcement authorities said Tuesday they seized nearly EUR2
billion ($2.17 billion) worth of bitcoins in the eastern state of
Saxony.

An investigation is still underway and no charges have yet
been filed, police said.

The Saxon State Criminal Police Office said the seizure of 50,000
bitcoins could be the biggest to date of its kind in Germany.

Police said they were investigating two men, aged 40 and 37, who are
suspected of running a piracy website until the end of 2013.
Authorities allege the men bought bitcoins from the money they earned
from the portal.

They added that their investigation was into suspected unauthorized
commercial exploitation of copyrighted works and subsequent
commercial money laundering.

Suspects transfer bitcoins to federal agency

The seizure came after the "accused voluntarily transferred" the
bitcoins to an official wallet of the Federal Criminal Police Office
(BKA), police added in a statement.

The BKA did not provide further details about the transfer, but
investigators cited by German news agency dpa said no decisions had
been made regarding cashing in the bitcoins. 

Police said no further information would be available until the
investigation comes to a close. 

Roshni Majumdar Roshni is a writer at DW's online breaking news desk
and covers stories from around the world.@RoshniMaj
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