- The German government has reportedly moved another Bitcoin worth millions.
- The government has been sending massive BTC transfers over the past week.
- The development comes after German authorities seized 50,000 BTC in January.
A crypto address labeled as belonging to the German Federal Criminal Police Office (BKA) was active again Wednesday, sending millions in Bitcoin to multiple addresses.
The development comes after the wallet on June 25 moved 900 BTC ($55 million) in three transfers. This included 500 BTC ($30.9 million) to the address โ139Poโ and 400 BTC ($24.4 million) in two transactions to crypto exchanges Kraken and Coinbase, indicating a potential interest in selling the assets.
BKA Wallet Moves More BTC
On June 26, on-chain analytics firm Lookonchain alerted the X (Twitter) crypto community to massive Bitcoin transfers by the German governmentโs reported wallet. Like the previous day, the wallet sent some Bitcoin to the address โ139Poโ and the rest to crypto exchange deposit addresses.
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โThe German Government transferred 750 $BTC($46.35M) out again, of which 250 $BTC($15.41M) was transferred to #Bitstamp and #Kraken,โ Lookonchain wrote. The German Government also transferred 0.001 $BTC to Flow Traders, which may be a test transaction and will sell $BTC through Flow Traders.โ
Address โ139Poโ received 500 BTC from the BKA wallet for the second time in barely a day. While blockchain analytics firms have yet to tag the address, it is likely that it belongs to a crypto exchange.
The BKA-labeled address embarked on a Bitcoin transfer spree to crypto exchanges last week after German authorities seized 50,000 BTC connected to a pirated materials operation film-piracy site Movie2k in January.
Overall, the address has transferred about $150 million in Bitcoin to crypto exchanges and another $147 million BTC to the โ139Poโ address so far.
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