German authorities have temporarily taken control of 50,000 bitcoins valued at $2.17 billion, marking their largest-ever cryptocurrency seizure, as revealed in a recent police statement.
This move stems from a 2013 operation targeting a piracy website that violated the Copyright Act. The illicit gains from this venture were converted into bitcoin, with one of the two suspects willingly transferring the cryptocurrency to the Federal Criminal Police Office (BKA), according to the statement.
While investigations are underway regarding potential subsequent commercial money laundering, no formal charges have been filed against the individuals involved. The police statement notes that a final decision on how to use the seized bitcoins has yet to be reached.
Comparatively, in 2023, the U.S. government confiscated $216 million worth of bitcoin associated with Silk Road, a dark net market dismantled in 2013. Presently, the U.S. government holds approximately $9.5 billion worth of bitcoin, as reported by Arkham data.
