Arkham: 45,000 BTC Unaccounted for by the German Government May Still Be Controlled by Movie2K Operators

BlockBeats News, on September 6, Arkham posted on social media stating that the institution has identified $5 billion worth of bitcoin that the German government failed to seize.

Previously, at the beginning of 2024, German police confiscated 49,858 bitcoin from the operators of the movie piracy website Movie2K, and sold them in July 2024 at an average price of $57,900, earning $2.89 billions.

However, Arkham's investigation discovered another bitcoin cluster related to early Movie2K activities, totaling approximately 45,000 bitcoin (currently valued at $4.99 billions). These bitcoin have not been moved since 2019 and are distributed across more than 100 bitcoin wallets, most likely still controlled by the Movie2K operators. The scale is almost equivalent to the amount of bitcoin that was seized.

The German government's statement did not mention this additional batch of bitcoin, nor was it included in the original "emergency sale" plan.