Blockchain analytics company Arkham revealed that the German government was unable to seize all Bitcoin assets linked to the pirate movie site Movie 2k.
In early 2024, German police seized about 49,858 BTC from the owner of Movie2K, the platform that operated in 2013 and whose executives were arrested in 2019. These assets were handed over to the state in January 2024 via a “voluntary transfer.” We cited the “risk of loss of value” as the reason for the sale.
However, according to Arkham’s latest analysis, another Bitcoin cluster linked to Movie2K is worth around 45,000 BTC. These assets, worth around $5 billion at current prices, have been on hiatus since 2019 and are reportedly distributed across more than 100 different wallets.
The German government’s official statement does not mention these additional Bitcoin holdings, but the funds in question are still believed to be under the control of the owners of Movie 2K.
*This is not investment advice.
