German Police Shuts Down Crypto Streaming Site Operator Seizing $30M

The German Police shuts down a crypto streaming site operator seizing $30 million worth of crypto in the latest operation as we are reading more in the upcoming crypto news.

One of the main operators movie2k.to has managed to forfeit more than $30 million worth of crypto and the German police shuts down the platform seizing all the assets. After the long joint investigation with the American FBI, the German police managed to put an end to this operation associated with illegal movie streaming.

Shuttered back in 2013 because of copyright infringement concerns, the site’s main operators were accused of having distributed more than 880,000 pirated copies of movies as well as with their accomplices via the site between 2013 and 2018. They have been charged with operating an illegal streaming service enabling users to watch pirated movies without having to download them. One of the people who operated the platform has been in police custody since 2019.

The Dresden Public Prosecutors’ office supported the State Criminal Police Office in Saxony as well as the Leipzig Tax Investigation Department and announced that the programmer had cooperated in forfeiting more than $25 million EUR worth of Bitcoin Cash and BTC. Since mid-2012, the two main operators are alleged to have used profits from their advertising fees on the platform and the subscription revenue to purchase huge amounts of BTC. The programmer of the site is alleged to have acquired more than 22,000 BTC from this which he later used to acquire different properties via a Berlin retail estate firm.

He is also under suspicion of commercial money laundering and being connected with the activities as a real estate entrepreneur. Tracing the BTC was carried out with a joint investigative work between the FBI and the German Federal Criminal Police Office. The forfeited BTC has been seized as a damage reparation by the public prosecutor after the release of the defendant.
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The programmer has confessed to the charges and is reported to have been supporting the authorities in their further investigations against his accomplice who remains on the run.

The German newspaper Der Spiegel reported that movie2k.to was working alongside neu.to and kino.to which are one of the biggest platforms in the distribution of illegally pirated movies. Back in 2012, the founder and operator of kino.to was sentenced to a prison term of 4 years.