Germany conducts the largest cryptocurrency confiscation in history
According to a statement by representatives of the German Federal Criminal Police Office (BKA), law enforcement agencies have confiscated a huge amount of cryptocurrency. According to preliminary data, they conducted the largest operation in history. This way, they managed to get 50,000 BTC for a total of $2.17 billion.
According to local police officials, an old case was examined during the investigation in mid-January 2024. This is due to the operation of a large pirate site in 2013. He reportedly violated German copyright laws and other regulations. The platform was closed by court order, but it became known that the company’s revenues were converted into bitcoins by the executives.
The statement said that one of the two suspects voluntarily transferred the cryptocurrencies to Federal Criminal Police Office wallets “A final decision on the further use and application of bitcoins has not yet been made,” the police said in a statement.
In 2023, the US government confiscated $216 million worth of BTC. The digital assets were linked to Silk Road activities. In July, the US authorities moved bitcoins previously confiscated from Silk Road. In several transactions, government-affiliated wallets transferred more than 9824 BTC. Also, in March 2023, the US government sold 9861 BTC for $215 million. This was only a part of the confiscated assets that remained at that time. According to Arkham INtelligence, the US government owns $9.5 billion worth of military hardware.
