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Movie2K Operator Transfers $2 Billion in Bitcoin to Authorities

Movie2k bitcoin transfer

The former operator of the popular streaming portal Movie2K has made headlines by transferring a staggering $2 billion worth of bitcoin to law enforcement authorities. This landmark event marks a significant turning point in the ongoing investigation into Movie2K’s illicit activities.

Movie2K gained widespread notoriety for its role as a major player in the world of online piracy. In 2013, multiple arrests were made in connection with the site’s operations, signaling the beginning of a lengthy legal battle. It was suspected that the operators had accumulated a substantial amount of Bitcoin, and recent developments have confirmed these suspicions.

German authorities have provisionally seized nearly 50,000 bitcoins, valued at a whopping $2 billion, making it one of the largest cryptocurrency hauls worldwide and the largest bitcoin seizure in Germany to date.

The implications of this massive bitcoin transfer are yet to be fully understood. It raises questions about the future of the seized cryptocurrency and how it will be utilized by the German authorities. The ongoing investigation into Movie2K’s alleged copyright infringement and money laundering activities will likely play a crucial role in determining the fate of these seized assets.

As the investigation progresses, more details are expected to emerge, shedding light on the origins of Movie2K’s bitcoin holdings, the motivations behind the operators’ decision to convert their revenue into cryptocurrency, and the authorities’ plans for the seized assets. Stay tuned for further updates on this compelling case.

Movie2K, a prominent Movie Streaming Site in German-speaking countries, was an early adopter of bitcoin. The site, known for its vast collection of Movies and TV Shows, utilized Bitcoin as a revenue stream before its abrupt shutdown. In 2013, several arrests were made by the Dresden police involving operators of the website.

Amidst the investigation, authorities managed to seize $29.7 million worth of Bitcoin from the operators of Movie2K. However, it was suspected that there were more bitcoins hidden away, waiting to be discovered.

Recently, it was revealed that German authorities have provisionally secured nearly 50,000 bitcoins from the website. This massive stash of bitcoin is valued at over $2 billion, making it one of the largest crypto hauls worldwide and the largest bitcoin seizure in Germany.

This is the most extensive security of Bitcoins by law enforcement authorities in the Federal Republic of Germany to date. The Bitcoins were seized after the accused voluntarily transferred them to official wallets provided by the BKA. This means that a final decision has not yet been made about the utilization of the Bitcoins.

Movie2K’s interest in Bitcoin highlights the streaming platform’s forward-thinking approach to finding alternative revenue streams. By accepting Bitcoin donations, Movie2K tapped into the growing cryptocurrency market, which provided a level of anonymity and decentralization that aligned with the site’s ethos.

How to Buy & Use Bitcoin

The operators of Movie2K accumulated their significant bitcoin holdings through a combination of advertising revenue, involvement in subscription scams, and strategic investments. Rather than receiving payments in cryptocurrency, the operators made a deliberate decision to purchase Bitcoin with their earnings.

Back in 2012, when the value of bitcoin was just a few dollars per coin, the Movie2K operators began converting their revenue into bitcoin. This move turned out to be a lucrative investment, considering the skyrocketing value of bitcoin in recent years.

However, despite their profitable holdings, the operators of Movie2K find themselves unable to enjoy their Bitcoin wealth. The ongoing investigations into allegations of copyright infringement and money laundering have cast a shadow on these assets.

As the investigation continues, the fate of Movie2K’s Bitcoin holdings remains uncertain. It is yet to be determined how the seized cryptocurrency will be utilized by German authorities or if there are additional assets targeted by the ongoing investigation.

This article was originally published by the Saxony Police which you can find below.

Integrated Investigation Unit in Saxony Secures Almost 50,000 Bitcoins

We want to know what you think of this seizure. Let us know your thoughts in the comment section below!

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Notable Replies

  1. Avatar for AJS1 AJS1 says:

    So I take it Bitcoin is not anonymous like everybody thinks it is.

  2. Bitcoin is anonymous, the website owner “voluntarily” transferred them to the authorities’ wallet.

  3. voluntarily i think maybe some pressure applied prison or give

  4. Avatar for teehar teehar says:

    wonder how all those movie and tv companies will divvy up all those virtual bitcoins

  5. ime sure they will pass this windfall on to there customers :rofl:

  6. Avatar for teehar teehar says:

    riiiiiiigggggghhhhhtttttt lol

  7. Avatar for Miki Miki says:

    OMG. That’s a few tractor trailers full of donuts.

  8. free popcorn for movie goers for life

  9. Exec’s getting bonuses

  10. Avatar for jos2 jos2 says:

    Show me some love and send some Bitcoin here!!!

  11. If the story is correct that these 50,000 coins were all acquired in 2013, then at that time they’d have been worth less than $1 million. Very very smart of these two “males” to have purchased the Bitcoin then. If this is the total confiscated today, how many other coins did they spend over the past 10 years that were never confiscated??

  12. I’m not familiar with Movie2K but I’m assuming it was an IPTV service charging its users. 50K Bitcoins represents a lot of subscribers and a whole lot of potential exposure.

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