Cryptocurrency is becoming an increasingly popular method of payment for adult content creators. But it turns out they’re not the only ones who like their crypto.

German police, assisted by the FBI, have secured a staggering haul of nearly 50,000 bitcoin, valued at approximately $2 billion, from the now-defunct movie streaming portal Movie2k operators. This action marks one of the largest cryptocurrency seizures globally and a major triumph in the ongoing battle against online piracy.

Movie2k, once a predominant pirate streaming site in German-speaking countries, was an early adopter of bitcoin, mirroring the pioneering steps of other pirate sites like The Pirate Bay. These platforms quickly recognized the potential of cryptocurrencies, with The Pirate Bay accepting Bitcoin donations as early as 2013, when the value of a single Bitcoin was a mere fraction of its current $43,000 price.

The unexpected shutdown of Movie2k in 2013 sparked speculation of legal challenges, a theory that gained traction when Dresden police later disclosed multiple arrests linked to the site. Initially, authorities revealed the seizure of $29.7 million in bitcoin from the site’s operators, a substantial amount that hinted at the scale of the operation’s financial dealings.

However, recent disclosures from Dresden police have unveiled a much larger cryptocurrency stash. In a meticulously coordinated effort involving Dresden’s General Prosecutor’s Office, the Saxony State Criminal Police, and the local tax authority (INES), investigators have now ‘provisionally’ secured nearly 50,000 bitcoin.

This record-breaking seizure by German law enforcement is unprecedented in scale, both nationally and globally. The accused voluntarily transferred the confiscated bitcoins to official wallets managed by the Federal Criminal Police Office, indicating the ongoing nature of legal proceedings regarding utilizing these assets.

Forensic experts from the FBI played a crucial role in tracing and securing these digital assets. Investigations revealed that the site operators accumulated their fortune through a combination of advertising revenues and questionable subscription schemes, subsequently converting their earnings into bitcoin as early as 2012 when its value was just a few dollars.

This strategic investment in bitcoin, albeit for illicit purposes, was astoundingly profitable. However, the site’s operators, a 40-year-old German and a 37-year-old Polish man, are currently under investigation for copyright infringement and money laundering, and they cannot enjoy the fruits of their investment.

The full scope of Movie2k’s bitcoin holdings remains uncertain, with authorities potentially eyeing more assets. This landmark seizure underscores the vast financial networks underpinning online piracy and demonstrates the growing efficacy of international law enforcement collaboration in the digital age.