When Piracy Profits Meet Crypto: How German Cops Busted a $29M Bitcoin Scheme

Dresden prosecutors just wrapped up a wild case: they seized €25 million ($29.6M) in Bitcoin and Bitcoin Cash from the guy who ran movie2k.to—basically the Netflix of pirated films back in the day. This dude wasn’t just streaming movies; he was quietly building a crypto fortune.

The Numbers Are Insane

Over 880,000 pirated films distributed across five years. Revenue? Flipped into over 22,000 BTC through ads and subscriptions. That’s the kind of scale that gets governments’ attention. He then did what smart criminals do: converted some crypto into real estate to launder it.

Why This Matters for Crypto

This case is a masterclass in how blockchain isn’t as anonymous as people think. The programmer thought holding Bitcoin was safer than keeping cash, but prosecutors traced it anyway. He forfeited the coins and is now cooperating—which means he got caught.

Here’s the kicker: authorities are still hunting for the “second main operator” who disappeared. One guy in custody, another ghost. Typical.

The Takeaway

Bitcoin might be pseudonymous, but it’s not anonymous. Every transaction is on the ledger forever. If you’re moving serious amounts through exchanges or converting to fiat/real estate, you’re leaving breadcrumbs. This case proves that even massive crypto holdings can be seized when regulators connect the dots.

The MPAA killed the website back in 2013, but the crypto fortune took years to recover. Moral of the story? Crypto doesn’t make you invisible to law enforcement—it just makes the paperwork a little harder.