FBI Helps Seize $30 Million in Bitcoin from Website
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Answer FBI Helps Seize $30 Million in Bitcoin from Website
announce The Prosecutor’s Office in Dresden, Saxony, in Germany, this week reported that it seized more than 25 million euros, or nearly $30 million, in Bitcoin and Bitcoin Cash from a site that illegally streams movies and TV shows.
The standing website is Movie2K.to which was in operation from 2008 to 2013 and hosted streaming links for about 880,000 pirated movies and TV episodes.
According to the announcement, the website operators earned around 22,000 Bitcoin during that period through online advertisements and subscription traps, where users agree to a paid subscription and then struggle to break free and get away with it because it makes it very difficult and sometimes the subscription can only be canceled by replacing Payment method.
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This massive amount of Bitcoin, which is worth about $262 million at the time of this writing, is no longer available.
The website operators spent large amounts of looted money on real estate between 2013 and 2016.
Last November, German authorities arrested two people while investigating the website, a programmer and a real estate businessman.
Both confessed to their crimes and cooperated with authorities against another similar website operator.
According to the announcement, the programmer voluntarily surrendered and admitted his possessions of bitcoins, valued at 25 million euros, during his interrogation by the public prosecutor.
The FBI helped identify and access Bitcoin, with additional assistance from Germany’s Federal Criminal Police Office.
TorrentFreak reports that Movie2K.to was very popular when it was in operation, ranking 19th on their list of most visited sites in Germany before closing in May 2013.
However, it was a temporary absence, replaced by his imitate site Movie4K.to, which still exists today.
Read:Bitcoin (BTC) dominance of the cryptocurrency market drops to 42%
This site has since been widely blocked by ISPs in countries such as Denmark, Austria, and the United Kingdom.
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