German police seizes US$2.17 billion in bitcoin

German police have confiscated 50,000 bitcoin worth US$2.17 billion ($3.28 billion) in the country’s ‘most extensive’ cryptocurrency seizure ever, it said in a statement.

“This is the most extensive seizure of bitcoins by law enforcement authorities in the Federal Republic of Germany to date,” police in the city of Dresden said.

The investigation was supported by the Federal Criminal Police Office (BKA), the FBI and a Munich-based forensic IT expert company, it said.

Police said ongoing investigations into commercial money laundering are directed against two suspects who ran a German piracy website until 2013.

The bitcoins were seized after the suspects voluntarily transferred them to official wallets provided by the BKA, it added.

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AndyC

Andy Curtis is an award-winning security consultant, researcher and public speaker. He has been working in the computer security industry since the early 1990s, having been employed by state and federal government, leading healthcare and banking providers across three continents. He has given talks about computer security for some of the world’s largest companies, worked with law enforcement agencies on investigations into hacking groups, and is a regular voice on TV and radio explaining IT security threats.

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