German Authorities Seize $2.1 Billion in Bitcoin from Copyright Violators

    German authorities make history with a $2.1 billion Bitcoin seizure from individuals accused of decade-old copyright violations. The operation, involving global collaboration, marks one of the largest cryptocurrency seizures worldwide.

    • Historic Seizure: German police confiscate 50,000 Bitcoin valued at $2.1 billion in a groundbreaking action.
    • Decade-Old Violations: Two men, aged 40 and 37, voluntarily surrender the cryptocurrency for copyright law violations dating back over a decade.
    • Global Collaboration: The operation involves collaboration between German authorities, the FBI, and a Munich forensic IT expert company.

    Decade-Old Bitcoin Seizure

    In a historic move, German authorities seized a record-breaking 50,000 Bitcoin (BTC) valued at $2.1 billion from two individuals accused of copyright law violations dating back over a decade. The suspects, a 40-year-old German man and a 37-year-old Polish man, were allegedly involved in running a leading German company until May 2013. The investigation, supported by the Federal Criminal Police Office (BKA), the FBI, and a Munich forensic IT expert company, revealed that the accused had purchased Bitcoins with the proceeds of their activities. Further details are withheld pending the completion of the investigation.

    Global Collaboration and Cryptocurrency Surrender

    The operation showcased international cooperation, with German authorities collaborating with the FBI and a Munich forensic IT expert company. The accused voluntarily handed over their cryptocurrency proceeds, acknowledging violations of the Copyright Act and engaging in money laundering. The confiscated Bitcoin, now valued at $2.1 billion, represents one of the largest seizures by law enforcement globally. No decision has been made on the fate of the recovered coins, highlighting the ongoing challenges authorities face in handling seized cryptocurrencies.

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