Blockchain analytics firm Arkham revealed that the German authorities was unable to grab all Bitcoin property linked to the pirate film website Film 2k.
In early 2024, German police seized about 49,858 BTC from the proprietor of Movie2K, the platform that operated in 2013 and whose executives had been arrested in 2019. These property had been handed over to the state in January 2024 through a “voluntary switch.” We cited the “threat of lack of worth” as the rationale for the sale.
Nevertheless, in accordance with Arkham's newest evaluation, one other Bitcoin cluster linked to Movie2K is value round 45,000 BTC. These property, value round $5 billion at present costs, have been on hiatus since 2019 and are reportedly distributed throughout greater than 100 totally different wallets.
The German authorities's official assertion doesn’t point out these further Bitcoin holdings, however the funds in query are nonetheless believed to be underneath the management of the homeowners of Film 2K.
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