Users are actively sending cryptocurrency to a crypto wallet linked to the German government. Some of the transfers contain interesting messages.
Last week, German authorities sold off all the bitcoins (BTC) confiscated from the operator of the pirate website Movie2k. After that, not a cent was left at the address associated with the German government. However, concerned members of the crypto community have already managed to “donate” $417 in cryptocurrency.
What’s happening
According to Arkham IntelligenceAt the time of writing, a wallet belonging to the German Federal Criminal Office (BKA) holds 0.006 BTC, worth $417.
BKA Bitcoin Wallet. Source: Arkham Intelligence
At the end of June, the German government had more than $3 billion worth of bitcoins at its address. However, over the past few weeks, the authorities have sold off their entire stock of cryptocurrency.
Since then, the German government’s Bitcoin wallet has received more than four dozen transactions, with the largest transfer, sent on Saturday, amounting to $118.
Some savvy users use the OP_Return field to accompany their transaction with a message addressed to the German authorities. For example, one message read:
The OP_Return command allows you to include up to 80 bytes of data in a transaction. However, the cryptocurrency sent with it cannot be converted later, so it is considered lost forever.
Not only fans, but also haters write to the German government. In particular, several times transfers were received to the BKA bitcoin wallet, containing the surname of Adolf Hitler or a numeric code, meaning the phrase “Heil Hitler”.
Another user sent $0.72 in Bitcoin to German authorities from an address that translated into letters means Elon Musk’s surname. Also $4 was sent from the address, containing the phrase “FucKyou”.
Some of the transactions in question were processed through Bitcoin anonymization technology called CoinJoin. New York Department of Financial Services (NYDFS) describes this technology as a “gray area for regulators and exchanges.”
German authorities began transferring bitcoin to centralized exchanges (CEX) and unknown addresses in late June. The movement of large sums of money scared the crypto community. After the latest tranche, Tron creator Justin Sun approached the German government, saying he was ready to buy the remaining assets from BKA.
German Bundestag member Joana Kotar also criticized the authorities’ actions. The official called on them to stop and, instead of the “ridiculous” cryptocurrency sale, to start developing a clear legal framework for the digital asset industry.
The crypto community’s concerns were indeed exaggerated, as many analysts noted. According to CoinGeckoat the time of writing, Bitcoin is trading at $65,565, having risen in price by almost 3% over the past 24 hours.
Stay up to date! Subscribe to World Stock Market on Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
