Key Takeaways
- A German government agency moved $425 million in Bitcoin.
- Transactions include $32 million each to Kraken and Bitstamp.
- The German Federal Criminal Police Office previously seized these funds from a piracy site.
The German Federal Criminal Police Office (BKA) has transferred $425 million in Bitcoin (BTC), with portions sent to crypto exchanges, indicating potential sales. Transactional data shows $32 million each deposited on Kraken and Bitstamp, while some funds returned to the original wallet.
Arkham, a blockchain analytics firm, identified the wallet address as belonging to the BKA, which had seized nearly 50,000 BTC from the piracy site Movie2k.to in 2013. The BKA received these funds in January after a voluntary transfer from the suspects.
Arkham CEO Miguel More confirmed the movement of $130 million in BTC to “service wallets,” often suggesting an intention to sell soon.
The transfers were flagged on social media platform X by blockchain strategist @Defi_Maestro.
