Germany Potentially Overlooks $5 Billion in Untouched Bitcoin Linked to Movie2K Piracy Case

German authorities may have overlooked a colossal stash of more than 45,000 Bitcoin—worth nearly $5 billion—linked to the notorious Movie2K piracy case, according to a new report from blockchain intelligence firm Arkham.

The revelation raises fresh concerns about the thoroughness of earlier investigations and highlights the technical and legal barriers governments face in recovering digital assets.

Arkham’s analysis identified 45,060 BTC spread across more than 100 separate wallets connected to Movie2K, a film piracy site that thrived in the 2010s. The funds have not moved since 2019, and analysts believe they may still be under the control of the site’s operators.

These coins were not part of Germany’s record-breaking 2024 seizure, when police obtained 49,858 BTC through a voluntary surrender by two suspects. Authorities later liquidated those assets at an average price of $57,900, raising around $2.8 billion.

But Bitcoin’s surge to an all-time high of $124,128 in August means those coins would now be valued at more than $5 billion. The timing of the sell-off has sparked criticism, with many pointing out that billions in potential profit were left on the table.

Dormant Coins, Complex Obstacles

Authorities have not yet confirmed Arkham’s findings, and even if the funds are tied to Movie2K, seizing them poses steep challenges.

Officials would need to prove in court that the BTC was derived from piracy and then gain access to the wallets’ private keys—no easy feat without cooperation from the original holders.

Until that happens, the $5 billion remains inactive and beyond legal reach, underscoring the difficulties governments face with decentralized assets.

Germany Pushes Ahead with Crypto Adoption

Even amid questions over the Movie2K case, Germany remains a leader in Europe’s digital asset landscape. With the rollout of the EU’s Markets in Crypto Assets (MiCA) regulation, adoption is accelerating, with crypto users projected to exceed 27 million by 2026.

Financial institutions including Deutsche Bank are preparing digital asset custody services, while tax rules encourage long-term holding by exempting gains on assets held over one year. Short-term gains remain taxed at rates up to 45%.

The case serves as a reminder that while Germany embraces regulation and mainstream adoption, the unique nature of Bitcoin—irreversible transactions and private key control—continues to complicate enforcement.

For now, the 45,000 dormant BTC remains a hidden fortune, frozen outside the grasp of both authorities and the market.