Recently, an on-chain analysis report from Arkham has caused a sensation in the crypto world, revealing a shocking fact: behind the German government's claim of successfully seizing the piracy website Movie2K and selling 50,000 Bitcoins in early 2024, there is an even bigger secret.

The report indicates that, in addition to the 50,000 Bitcoins confiscated by the government, there are approximately 45,000 Bitcoins (worth nearly $5 billion) dispersed across more than 100 wallets that have not been moved since 2019. These Bitcoins are likely still under the control of the Movie2K operators.

This discovery makes the German government's previous "victory" seem somewhat awkward. In early 2024, the Saxony police in Germany had proudly announced the resolution of the Movie2K case and described it as an important milestone in the regulation of Crypto Assets. The German Ministry of Finance even issued a press release, boasting that this was the first time that the treasury was enriched through the monetization of crypto assets.

In July of the same year, the German government quickly began to sell these Bitcoins. They sold them in 16 batches on exchanges such as Coinbase and Kraken, with an average selling price of $57,900, totaling $2.89 billion in revenue. At the time, government officials stated in interviews that this timely liquidation avoided the risks associated with price volatility.

However, the report by Arkham reveals a more astonishing fact: the operators of Movie2K may have deliberately allowed the government to seize only half of the assets while keeping a larger portion for themselves. This finding not only overturns people's understanding of the case but also raises the question: was this a successful law enforcement action, or a meticulously planned smokescreen?

This event has raised questions in the crypto assets community about the government's regulatory capabilities, while also highlighting the potential of blockchain technology in tracking large flows of funds. It reminds us that in the world of digital assets, the truth may be much more complex than it appears on the surface.

As this astonishing discovery spreads, people begin to ponder: in the rapidly evolving crypto assets field, how can governments more effectively enforce the law? How can privacy protection be balanced with regulatory demands? These questions will undoubtedly continue to spark heated discussions in the future.