On September 6, Arkham posted on social media stating that the agency has identified $5 billion in Bitcoin that the German government has failed to investigate. Previously, in early 2024, German police confiscated 49,858 Bitcoins from the operators of the movie piracy site Movie2K and sold them in July 2024 at an average price of $57,900, yielding a profit of $2.89 billion. However, Arkham's investigation found another cluster of Bitcoins associated with the early activities of Movie2K, totaling approximately 45,000 coins (currently valued at $4.99 billion). These Bitcoins have not been transferred since 2019 and are dispersed across more than 100 Bitcoin wallets, likely still under the control of the Movie2K operators, with a scale almost equivalent to the number of confiscated Bitcoins. The German government's statement did not mention this additional batch of Bitcoins nor included them in the initial "emergency sale" plan.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Arkham: 45,000 BTC, which the German government has failed to investigate, may still be under the control of the operator of Movie2K.
On September 6, Arkham posted on social media stating that the agency has identified $5 billion in Bitcoin that the German government has failed to investigate. Previously, in early 2024, German police confiscated 49,858 Bitcoins from the operators of the movie piracy site Movie2K and sold them in July 2024 at an average price of $57,900, yielding a profit of $2.89 billion. However, Arkham's investigation found another cluster of Bitcoins associated with the early activities of Movie2K, totaling approximately 45,000 coins (currently valued at $4.99 billion). These Bitcoins have not been transferred since 2019 and are dispersed across more than 100 Bitcoin wallets, likely still under the control of the Movie2K operators, with a scale almost equivalent to the number of confiscated Bitcoins. The German government's statement did not mention this additional batch of Bitcoins nor included them in the initial "emergency sale" plan.