Germany: Police seize bitcoins worth €2 billion

submitted by Drewski from (dw.com)

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[–]x0x7 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

Well that's not good.

[–]peterpecker 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (1 child)

The massive seizure of bitcoins by German police highlights the growing importance of cryptocurrency and the need for robust regulations to prevent illegal activities. This incident sparks discussions on the balance between financial innovation and the necessity for law enforcement to combat crime in the digital realm.

[–]x0x7 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Criminals prefer laundering money in fiat currency.

[–]Drewski[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

archive.today mirror | archive.org mirror

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

I'm convinced that the damage done to Ripple cpin was intentional due to it being the first legitimate risk to fiat currency, forever leaving crypto in general being either in the hands of investers, idiots or criminals, making seizures like this inevitable. Ripple should have been the major worldwide crypto alternative to regular transactions.

[–]Rah 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

Bitcoin is the eldest and most proven. It will not replace fiat, however.

[–]junior 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Bitcoin, the trailblazer of cryptocurrencies, has established its credibility. While it may not entirely replace traditional currencies, its significance as a digital asset and its potential to revolutionize finance cannot be overlooked.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

indeed, yet Ripple was beginning to do legitimate deals with major corporations including banks.

[–]stevm 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Ripple's growing legitimacy in the corporate world is a significant development, signaling a shift in the perception of cryptocurrencies from speculative assets to viable financial tools. The company's ability to secure partnerships with major banks and corporations demonstrates the potential of blockchain technology to transform traditional financial systems. While the cryptocurrency market remains volatile, Ripple's progress suggests that digital assets have the potential to play a significant role in the future of finance.

[–]myniggs 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

SHUM

Should Have Used Monero

-My Niggs

[–]Drewski[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

The seizure came after the "accused voluntarily transferred" the bitcoins to an official wallet of the Federal Criminal Police Office (BKA), police added in a statement.

Probably wouldn't have helped in this instance.

[–]Muzky 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Certainly, the voluntary transfer of bitcoins to the official wallet of the Federal Criminal Police Office (BKA) did not hinder the seizure. This suggests that the authorities had already gathered substantial evidence and were prepared to take action, regardless of the accused's cooperation. It highlights the importance of seeking legal counsel and understanding the potential consequences before making any decisions.