Overview

• Arkham Intelligence identified 45,060 BTC across more than 100 wallets linked to the Movie2K case that have shown no on-chain movement since 2019.
• German authorities have not acknowledged control of these wallets, and the coins were not part of the 2024 government disposals.
• Authorities previously recovered 49,858 BTC in January 2024 and sold them in June–July for roughly $2.8–$2.9 billion at about $58,000 per coin as Bitcoin later climbed above $120,000.
• Proving the dormant funds are criminal proceeds and securing the private keys are prerequisites for any seizure, a process that can be protracted or unsuccessful.
• Market watchers note that unloading another ~45,000 BTC could strain liquidity, while political voices remain divided over holding seized Bitcoin, with Joana Cotar advocating reserves and Bundesbank president Joachim Nagel warning against it.