On June 2, Germany’s Federal Criminal Police Office (BKA) transferred 282.74 BTC (approximately $17.6 million) to Coinbase, Bitstamp, and Kraken. The transaction was observed on Arkham.
Three hours later, the administrators moved an additional 361.8 BTC (around $22.65 million) to the address of market maker Flow Traders.
Over the past month, coins worth approximately $193 million have been moved from wallets owned by German authorities to CEX.
Initially, the wallet labeled as “German authorities” held 50,000 BTC. According to Arkham, these funds were seized in January from administrators of the pirate movie site Movie2k.
On June 19, the government-marked address sent bitcoins worth $425 million to another wallet it owns. Subsequent transfers followed on June 25, June 26, and July 1.
Previously, David Bailey, CEO of Bitcoin Magazine, accused the US authorities of “squandering” the nation’s digital gold reserve, which was supposed to exceed 400,000 BTC.