The authorities of the free state and the lands South and Southeast of the Federal Republic of Germany (FRG), Bavaria, fearing further price declines, sold the cryptocurrency amounting to 12 million euros, which was the largest sale in German legal history.
According to reports in the local media to hammer away: 1312 bitcoins, Bitcoin Cash 1399, 1312 220 Gold Bitcoin and Ethereum. Cryptocurrency seized in criminal proceedings, were sold within two months, a total of 1600 was concluded individual transactions. The Prosecutor’s office made a statement:
“Because all cryptocurrency volatility and even risk of extinction, Central Department of cybercrime Bayern was ordered to immediately sell the assets.”
Cryptocurrency prosecutors acquired in the course of criminal proceedings against the online platform “Lesen und Lauschen”, which illegally sold more than 200,000 e-books and audiobooks, and as payment was made only a few cents. According to the local newspaper Der Tagesspiegel, the platform used at least 30 000 people. The owners of the website were arrested in June last year, the site subsequently banned.
Auctions for the sale of assets seized during criminal investigations, a common practice with law enforcement agencies around the world. While revenue from the sale of crypto-currencies of $ 14 million, the U.S. marshals Service received more than 40 million US dollars for 3812 bitcoins seized during civil and criminal proceedings in January.
Last year, Bulgarian police seized 213 519 bitcoin during the arrest of an organized criminal group, recruiting corrupt customs officials. At the time of seizure of assets, the amount in bitcoins was approximately $ 3.3 billion, which allowed to repay one-fifth of the national debt of Bulgaria.