German Authorities Can’t Access Bitcoins Worth $65 Million ‘Seized’ From Hacker – Bitcoin News
German authorities were unable to access more than 1,700 Bitcoins from a convicted hacker who concealed in custody how he gained access to his encryption cache.
- German prosecutors in the Bavarian city of Kempten said Friday that they did not have access to more than 1,700 Bitcoins allegedly seized by the hacker.
- The hacker, then 29 years old, was convicted in April 2014 of, among other things, computer fraud. He secretly installed bitcoin extraction software on other people’s computers, which he kept for himself. He was sentenced to more than two years in prison.
- At the time, authorities “seized” more than 1,800 BTCs from him and were able to sell 86 Bitcoins from the hideout in 2018, local media reported. The sale brought in about 500,000 euros ($602,452). A spokesman for the Kempten District Court said the remaining Bitcoins were protected with multiple passwords and the computer experts assigned to the case were unable to decipher them.
- The hacker did not give the passwords to authorities and remained silent while serving his prison sentence. “We asked him, but he didn’t say anything. Maybe he doesn’t know,” prosecutor Sebastian Moorer told Reuters on Friday.
- At the current price of bitcoin, the BTC hacker’s hideout is worth more than $65 million, a huge increase from what it would have been in 2014 when the hacker was convicted. Without further details, Murer said police had secured the Bitcoin wallet so the hacker could not access the cryptocurrency.
What do you think about this case? Let us know in the comments section below.
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