Published
3 years ago on
August 17, 2020
- €25 million worth of Cryptocurrency has been seized by the German police after an extremely long investigation with the American Federal bureau of investigation.
- This money came as it was associated with the illegal movie streaming website movie2k.to.
€25 million worth of Cryptocurrency has been seized by the German police after an extremely long investigation with the American Federal bureau of investigation. This money came as it was associated with the illegal movie streaming website movie2k.to.
Even though the company was closed in 2013 due to concerns over copyright, the two main operators of the websites have been accused of distributing almost 900,000 pirated copies of films.
The operators have been charged with working and using an illegal streaming service which allows users to watch pirated films without having to download them.
In fact, one of the programmers has been in custody with the police since the end of last year.
Earlier this month on the 3rd of August, the Dresden public prosecutor‘s office as well as other official bodies, announced that the programmer had cooperated in frauding more than €25 million in bitcoin and bitcoin cash. In dollars, this would be equivalent to around $29.6 million.
According to the reports, these two operators have been using profits from advertising fees on the website as well the subscription revenue to buy large amounts of bitcoin. This has been going on since 2012.
Interestingly though, the programmer has confessed to the charges and is reported to be supporting the police in their investigation to the second operator of the platform.
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
