German Polizai Seizes $30 Million Bitcoin From Movie2k Operator, Will They Hold?

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German police have taken custody of about 2,500 bitcoins, worth some $30 million, that belong to the operators of movie2k.to. The now defunct website was a search engine for movies that operated from 2008 to 2013 with it very popular in Germany at the time. It was shut down in May 2013 by the Motion Picture Association of America (MPAA) on grounds of copyright infringement. Now the coder of this website has been arrested by Dresden authorities and has been in their custody since November 2019. In addition “a real estate entrepreneur from Berlin” has also been held on “suspicion of commercial money laundering.” “The profits generated from advertising fees and subscription trap income have been used by the two main operators since mid-2012 to buy large amounts of bitcoins. The programmer received over 22,000 bitcoins from this. In the period from autumn 2013 to mid-2016, he mainly used the…

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