German Police, Cryptocurrency, and Movie Streaming Site

Law enforcement agencies are working hard to identify crypto-related crimes. German Police, in cooperation with the FBI, examined one such case. The police seized more than 25 million euros worth of cryptocurrency associated with the illegal movie streaming site movie2k.to.

The illegal movie streaming site was closed due to copyright infringement concerns in 2013. Importantly, according to the information, two main operators distributed more than 888,000 pirated copies of films. This was possible with the help of their accomplices, by using the website between spring 2013 and fall 2018. They operated an illegal streaming service, which enabled users to watch pirated films without downloading them according to materials.

Interestingly, one of the main operators, who worked as the site’s programmer, remains in police custody since November 2019.

Cryptocurrency and the illegal movie streaming site

Several days ago, the Dresden Public Prosecutor’s Office, supported by the State Criminal Police Office in Saxony and the Leipzig Tax Investigation Department made an important announcement. According to this announcement, the programmer forfeited over 25 million euros ($29.6 million) worth of Bitcoin and Bitcoin Cash.

According to authorities, the two main operators used profits from advertising fees on movie2k.to as well as the revenue from subscription to buy large amounts of Bitcoin. Importantly, the programmer allegedly acquired more than 22,000 BTC from the activities stated above. He then used his gains to acquire various properties.

Furthermore, the same person is under suspicion of commercial money laundering in connection with his activities as a real estate entrepreneur in Berlin.

Thanks to joint investigative work between the German Federal Police and FBI, law enforcement officers managed to trace and identify Bitcoin associated with the case.

Movie2k.to was one of the world’s leading platforms for the distribution of pirated movies for years alongside kino.to and neu.to. This case once more underlines the complexity of crypto-related crimes.