The German government has transferred 900 Bitcoin (BTC) to crypto exchanges Kraken and Coinbase in the past 24 hours.
Kraken and Coinbase Transactions
The government’s Bitcoin wallet sent 200 BTC to Kraken and another 200 to Coinbase. The remaining 500 BTC were sent to an unknown address.
Previous Transfers
Earlier this month, the government moved over $195 million worth of Bitcoin to six exchanges, including Coinbase, Kraken, and Bitstamp.
Origin of Bitcoin
The Bitcoin seized by the German government was part of an investigation into Movie2k.to, an illegal streaming site. The operators of the site allegedly purchased Bitcoin with the proceeds of their illicit activities.
Largest Bitcoin Seizure
The Bitcoin seizure in connection with the investigation is the largest of its kind in Germany to date. Police confiscated nearly 50,000 BTC worth $2.17 billion at the time.
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $61,510.
