German prosecutors in the Bavaria state sold the seized digital currencies that are worth about €12 mln. The sale of roughly $14 million is the highest such sale in the legitimate history of Germany.
As per the local media sources, the digital currencies sold included 1312 seized Bitcoin (BTC). Other digital currencies included 1399 Bitcoin Cash (BCH), 1312 Bitcoin Gold (BTG), and 220 Ethereum (ETH).
According to the prosecutor in Bamberg, “The sales proceeds achieved total just over 12 million euros.”
The seized digital currencies have been sold through the span of two months in more than 1,600 individual transactions. These digital currencies were sold on a German-based trading platform from the end of February to the finish of April.
As indicated by the prosecutor,
“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.”
Amid a criminal continuing against the illicit online platform “Lesen und Lauschen”, more than 200,000 ebooks and audiobooks have been offered unlawfully. In excess of 30,000 individuals were utilizing the platform that asks as little as a couple of cents for payment.
A year ago, in June, the investigators of Cyber Crime Competence Center” (SN4C) of the LKA Sachsen and the “Zentralstelle Cybercrime Bayern” captured the operators and further block their site.
Auctioning the seized cryptos is a typical practice by law around the world. Because of high volatility in the crypto market, the prosecutors went for the emergency sale of the Bitcoins.