The Federal Attorney’s Office of Bavaria seized the cryptocurrencies from the online platform Lesen und Lauschen, which distributes pirated electronic and audiobooks, and sold at auction for $ 13.9 million.
This is a record volume of virtual currencies that Germany confiscated. In just two months, the government has implemented 1399 BCH, 1312 BTC, 1312 BTG, 220 ETH, carrying out 1600 individual transactions. To reduce the risks associated with exchange rate fluctuations, the prosecutor’s office used the emergency procedure Landesjustizkasse Bayern, which is usually used for perishable goods and cars.
Trades went from February to August, when the rate of the cryptocurrencies fell precipitously, but the organizers did not postpone the process due to the complexity of its organization. The average cost of the sold bitcoins was about $ 11.5 thousand. Access to funds was obtained because of the transaction of the accused with the investigation. All bitcoins were stored on hardware wallets, password-protected. Source: bitcryptonews.ru