German Authorities Confiscate Record $2.17 Billion in Bitcoin

In a groundbreaking move, German law enforcement has successfully seized a staggering $2.17 billion worth of Bitcoin (BTC), marking the largest operation of its kind in the country’s history. The seizure, involving 50,000 bitcoins, was the culmination of an international collaboration between German authorities, the Office of Foreign Assets Control (OFAC), and the United States Federal Bureau of Investigation (FBI). Reuters reports.

The joint effort highlighted the effectiveness of global cooperation in combating cybercrime. The bitcoins, linked to a suspect, were successfully transferred to a wallet under the control of German law enforcement.

This operation was initiated as part of an investigation into a German counterfeiting portal that operated until May 2013. The focus was on two individuals, a 40-year-old German and a 37-year-old Pole, both suspected of acquiring the bitcoins through illicit activities, including money laundering. The significant confiscation underscores the commitment of international agencies to address the financial aspects of cybercrime and disrupt illegal operations.