German Government Agency Moves $425M Bitcoin, Some to Crypto Exchanges
Summary
A German government agency has transferred $425 million in bitcoin (BTC) to another wallet address, with some funds sent to crypto exchange deposit wallets and some returned to the original address. The wallet address is associated with the German Federal Criminal Police Office (BKA). Transaction data reveals that $32 million worth of bitcoin was deposited on crypto exchanges Kraken and Bitstamp. The agency also moved $130 million in BTC to service wallets, indicating a potential intention to sell soon. The BKA had previously seized nearly 50,000 BTC, valued at over $2 billion, from the operators of the Movie2k.to film piracy website. The bitcoin was received in mid-January following a voluntary transfer from the suspects.
