The German authorities have been unable to obtain more than 1,700 bitcoins belonging to convicted hackers, and they remain silent on how to obtain cryptocurrency during their sentence.
- German prosecutors in the Bavarian town of Kempten stated on Friday that they have been unable to obtain the 1,700 bitcoins that they said were seized from hackers.
- The then 29-year-old hacker was convicted of computer fraud and other charges in April 2014. He secretly installed software on other people’s computers to mine bitcoins, which he kept. He was sentenced to more than two years in prison.
- According to local media, the authorities “confiscated” more than 1,800 BTC belonging to him at the time and were able to sell 86 bitcoins from the stash in 2018. The sale brought about 500,000 euros (US$602,452) in revenue. A spokesperson for the Kempten District Court said that the remaining bitcoins are protected by a variety of passwords, and the IT experts assigned to this case cannot crack them.
- The hacker did not give the password to the authorities and remained silent while serving his sentence. “We asked him, but he did not say. Prosecutor Sebastian Murer told Reuters on Friday.
- At the current Bitcoin price, the hacker’s BTC assets are worth more than 65 million U.S. dollars, a significant increase from the level when they were convicted in 2014. Mueller did not elaborate further. He said that the police had secured the Bitcoin wallet, so hackers would not be able to gain access to the cryptocurrency.
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