Suspect in Movie2k case transfers €2 Billion in Bitcoin to Saxony police

Suspect in Movie2k case transfers €2 Billion in Bitcoin to Saxony police

Suspect in Movie2k case transfers €2 Billion in Bitcoin to Saxony police The individual believed to be behind Movie2k.to, a platform for streaming pirated content, has reportedly relinquished a significant amount of wealth. German authorities have confiscated nearly 50,000 bitcoins, valued at around €2 billion, marking the largest seizure of the cryptocurrency to date. As part of an inquiry into the operator of Movie2k.to, it was revealed that one of the suspects had transferred close to 50,000 bitcoins to the wallets of the German federal criminal police. The Dresden General Prosecutor’s Office disclosed that the bitcoins were “temporarily secured” in mid-January 2024 after being transferred by one of the suspects.

German law enforcement authorities have made their most extensive seizure of Bitcoins to date. The suspect voluntarily transferred the Bitcoins to official wallets provided by the BKA, and a final decision on their utilization has not been made yet, according to the press release. The investigation is ongoing into suspected unauthorized commercial exploitation of copyrighted works for profit and subsequent money laundering, with two individuals – a 40-year-old German man and a 37-year-old Polish man – being the suspects for their involvement in a German piracy website that operated until May 2013.

Movie2k.to website to purchase Bitcoins legal or not

The accusation against them involves using the profits from the Movie2k.to website to purchase Bitcoins. Movie2k was a major illegal streaming platform in Germany. No additional details will be given until the investigation concludes. The investigation was conducted by the Dresden General Prosecutor’s Office, Saxony State Criminal Police Office, and the local tax office, with assistance from the FBI and a Munich-based forensic IT expert company.

Movie2k suspected main operators

As reported by golem.de, the two suspected main operators of Movie2k.to were accused in August 2020 of collaborating with others to distribute over 880,000 illegal film copies between Autumn 2008 and May 2013. They ran an illicit streaming service on Romanian servers and began purchasing large quantities of Bitcoins in mid-2012. This seizure is not the first related to Movie2k. In early 2020, the website’s programmer surrendered €25 million in Bitcoins as “compensation for damages” to authorities after being detained since 2019, according to speigel.de.

On Tuesday, the price of Bitcoin was fluctuating around $43,300.

The German police have seized a stash that is similar in size to the US federal authorities’ seizure of over $3.3 billion worth of Bitcoin from the individual who hacked and stole Bitcoin from the Silk Road dark web store.

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