Arkham maps 45,060 BTC linked to Movie2K: funds inactive since 2019 across more than 100 addresses

Arkham Intelligence has mapped 45,060 BTC linked to Movie2K, distributed across over a hundred addresses and, as far as it appears, inactive since 2019, according to the analysis published on Arkham’s platform and reported by the specialized press Arkham Intelligence.

At estimated average prices for the 2024 selling periods, the aggregate value of similar portions approaches multi-billion figures depending on the reference index.

According to data collected by Arkham and validated through on-chain cross-referencing by our editorial team, the detected clusters show concentrated activity up until 2019 and an absence of movements towards known exchanges in the last six years.

Industry analysts also note that fragmentation across more than 100 wallets significantly reduces the likelihood of a rapid recovery without international cooperation and blockchain intelligence tools blockchain.

The new on-chain snapshot: 45,060 BTC “dormant” since 2019

According to Arkham’s monitoring, a significant portion of the proceeds linked to the former pirate streaming platform Movie2K remains unconfiscated, dispersed across a vast constellation of wallets.

The tracking was conducted through the analysis of address clusters, the study of transaction histories, and the reconstruction of movements prior to the criminal investigations.

Direct consultation of the Arkham dataset is available on the Arkham Intelligence platform (link to the specific report being updated).

Why Germany Sold Quickly in 2024: What the Rules Predict

The German authorities apply procedures that mandate the quick sale of highly volatile assets when there is a risk of devaluation beyond certain thresholds (approximately around 10%) – a practice designed to preserve the value of seized assets by converting them into fiat currency under public control.

In this context, the mechanism has been cited as the operational reason behind the liquidation of confiscated resources in 2024.

In the summer of 2024, this regulatory framework would have guided the liquidation of approximately 49,858 BTC, consistent with internal protocols for digital assets exposed to strong price fluctuations: the sale was conducted in tranches between June and July 2024 with an average reported price close to $57,900 per BTC, a detail that generated estimated revenues around $2.8–2.9 billion and sparked public debate on the timing of the disposals.

Economic Impact: What Price and Timing Have Meant

The selling operations were positioned around an average close to $57,900 for BTC, with estimated revenues between $2.8 and 2.9 billion (editorial calculation based on declared volumes).

In the periods following the sale, the capitalization and market price of the cryptocurrency showed significant recoveries, reigniting the debate on strategies and timing in the disposal of digital assets. It should be noted that public entities favor the certainty of revenue over potential speculative positions.

Arkham Method: connections between addresses and historical flows

On-chain mapping utilizes industry-standard methodologies, including co-spending clustering, control change analysis, input/output tracking, and the reconstruction of patterns attributable to operators associated with Movie2K.

A key element of tracking is the absence of recent flows to known centralized exchange, indicating that the funds have remained under the direct control of the original parties or entities related to them, with no evidence of ongoing liquidations. To further explore the topic of exchanges, you can read the analysis on the boom in volumes on crypto exchanges.

Legal Scenario: What is Needed to Achieve Seizure

To proceed with a further seizure, the judiciary must demonstrate the illicit origin of the cryptocurrencies and proceed with the identification of the controllers of the wallets. To this end, it is crucial to integrate on-chain data with traditional technical investigations, a path that remains complex and intricate.

Typical Evidence Elements

Tracking of transactions attributable to the proceeds of illegal activity.

Financial documents that certify fiat-crypto conversions consistent with the platform’s revenues.

Investigative actions such as wiretaps, statements from the accused, and voluntary collaborations or transfers to the authorities.

Operational Obstacles: Keys, Fragmentation, and Timing

Identifying the actual holders of the private keys is the most critical aspect: even by identifying the addresses, the authority cannot intervene without a judicial order and without direct access to the keys.

Furthermore, the funds could be further fractioned or moved to hinder tracking, extending the time and increasing the costs of the investigation.

Implications for Policy and Public Finances

A potential confiscation and subsequent sale of the now-mapped BTC would constitute a potential injection of resources for the German public finances.

The event also fuels the debate on rules and practices in the management of seized digital assets, with attention to liquidation criteria, market risks, and the need for greater transparency and coordination between judicial and operational authorities.

Quick Summary

Arkham Intelligence has detected 45,060 BTC linked to Movie2K, still not confiscated, distributed across over 100 wallets.

In January 2024, German authorities reportedly seized ~49,858 BTC, which were then sold in tranches between June and July 2024 according to press reports.

The value of the 45,060 BTC stands on a multi‑billion scale, based on the current market price (reference index: CoinMarketCap).

For further seizures, technical proof of the illicit origin and identification of the wallet controllers is required.

Editorial note: The reconstruction is based on on-chain data made available by Arkham Intelligence and reports from specialized press updated as of September 8, 2025. Figures related to seizures and revenues for 2024 are reported by journalistic coverage and continuously updated public datasets; for precise verification, direct consultation of the Arkham platform and reports from the competent magistrates is recommended.