Proceedings have begun at the Leipzig Regional Court against the operators of the illegal streaming portal movie2k.to. The case centers not only on allegations of commercial money laundering and tax evasion, but also on bitcoin assets worth billions of euros. In 2024, 50,000 BTC were handed over to Saxony’s State Criminal Police Office (LKA Sachsen) and later sold for €2.64 billion. The court must now determine who is entitled to the proceeds.
An additional figure adds to the controversy: in the indictment, prosecutors suspect the main defendant may have also held 57,000 bitcoins.
If these reserves are confirmed, the potential crypto stash would be even larger. Prosecutors also claim that during the years the defendant was in hiding, he obtained at least €125 million through money laundering linked to cryptocurrency sales. Where this money is currently located remains unclear. Whether and how any additional assets can be identified and secured could significantly shape the course of the trial. According to media reports, the proceedings are scheduled to run until around mid-May.
50,000 BTC sold: Michael Saylor mocked Germany
According to prosecutors, the 50,000 BTC that were sold came from proceeds generated by the platform, which allegedly distributed pirated copies of films and TV series between 2008 and 2013. Investigators describe this as the largest cryptocurrency seizure in Germany’s history.
The sale drew international criticism. On social media, Germany was mocked for selling what some called “the hardest money on Earth.” Michael Saylor even commented in German:
“Jeder bekommt Bitcoin zu dem Preis, den er verdient” — “Everyone gets Bitcoin at the price they deserve.”
From a legal standpoint, however, the sale was mandatory. Germany’s Criminal Procedure Code and Criminal Code provide that confiscated assets should be liquidated as quickly as possible to secure the proceeds. State speculation on price appreciation is not предусмотрена by law.
