German authorities have confiscated approximately 50,000 Bitcoins, valued at around $2.1 billion.

The action is part of an extensive investigation targeting an online file-sharing service deemed illegal by the authorities. It represents the most substantial quantity of Bitcoin ever secured by German law enforcement. The operation was collaborative, involving the Saxony state prosecutors, Germany’s Federal Criminal Police Office, and the U.S. Federal Bureau of Investigation.

The investigation has focused on two individuals believed to have amassed this vast amount of Bitcoin (BTC) through profits generated by a German-based file-sharing website, which ceased operations in 2013.

According to the prosecutors, one of the suspects transferred these digital assets into a wallet controlled by the federal police of Germany.

Bitcoin has been experiencing a consecutive monthly rise, marking what could be its longest streak of gains since the increase fueled by pandemic-driven financial policies.

This latest law enforcement action underscores the ongoing vigilance against illegal online activities and the increasing significance of cryptocurrency in such operations.

Follow Us on Google News
Go to Source to See Full Article
Author: Mohammad Shahidullah

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details