On Wednesday, June 19, the owners of a crypto wallet associated with the German government transferred 6,500 BTC with a total amount of more than $425 million. The transfer was noticed by a crypto trader registered on the X network under the pseudonym @DaanCrypto.

Crypto trader @DaanCrypto used data from Arkham Intelligence. The transfer took place to a similarly marked wallet. However, then part of the incoming crypto assets in the amount of 2,500 BTC, worth more than $160 million, was sent to the untagged wallet bc1qq0l4jgg9rcm3puhhfwaz4c9t8hdee8hfz6738z.

And then it was divided into four more approximately equal tranches, of which two went to untagged wallets, and two more for 500 BTC each went to the addresses of the Kraken and Bitstamp cryptocurrency exchanges.

The German government is handling bitcoins that were confiscated in January by the Saxony State Criminal Police Office in cooperation with the Leipzig Tax Office from a pirate website called Movie2K, claims @DaanCrypto. In total, law enforcement agencies confiscated 50,000 BTC. Today, the value of these crypto assets is more than $3 billion.