German Prosecutors Sell Seized Crypto for Millions of Euro

Prosecutors in the German federal state of Bavaria have sold seized cryptocurrency worth €12 mln ($13.9 mln), the highest such sale in German legal history, local news Der Tagesspiegel reported May 28.

The sale reportedly involved 1312 Bitcoins (BTC), in addition to significant amounts of other digital currencies, including 1399 Bitcoin Cash, 1312 Bitcoin Gold, and 220 Ethereum. Cryptocurrencies which were seized during criminal proceedings were sold over the course of two months in 1,600 individual transactions. The prosecutors commented the sale:

“Since all cryptocurrencies are exposed to the risk of high price fluctuations or even total loss, the Bayern Central Cybercrime Office ordered an emergency sale.”

The funds were collected during criminal proceedings against online platform “Lesen und Lauschen,” which offered over 200,000 e-books and audiobooks illegally, asking as little as several cents as payment…

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