🇩🇪 Germany May Have Missed $5B in Bitcoin Tied to Movie2K

[chainsniff]

German authorities might have overlooked a massive stash of 45,000+ Bitcoin connected to the defunct movie piracy site Movie2K, according to crypto intelligence firm Arkham.

That’s nearly $5 billion worth of BTC still sitting untouched across more than 100 wallets — almost equal to the amount Germany actually seized (and sold) in 2024.

️ What Happened?

In Jan 2024, German police seized ~50,000 BTC from Movie2K operators.

Prosecutors sold the coins between June–July 2024 for ~$2.8B at ~$57,900 per BTC.

Just months later, BTC surged past $100K — meaning Germany effectively left billions on the table.

Arkham’s new research shows another 45,060 BTC, untouched since 2019, still connected to the piracy site’s addresses.

️ The Legal Catch

Even if Arkham’s findings are accurate, German prosecutors can’t just move in:

They must prove in court the coins are tied to Movie2K.

Authorities must identify and gain control of the wallets.

German law requires quick liquidation of volatile assets — meaning any future seizure could again lead to rapid sales.

The Numbers

45,060 BTC = $4.99B at current ~$111K.

At Bitcoin’s $124K peak in August, that would have been $5.6B.

If combined with the earlier seized stash, Movie2K’s Bitcoin trove exceeds $10B in today’s value.

Why It Matters

Shows how law enforcement liquidations can miss massive upside.

Highlights Bitcoin’s unique legal hurdles: proving ownership, tracing origins, and timing liquidation.

Raises the question: what happens if another $5B enters the market through government sales?