German Authorities Can’t Access Bitcoins Worth $65 Million ‘Seized’ From Hacker

German authorities were unable to design entry to greater than 1,700 bitcoins belonging to a convicted hacker, who stored quiet about how to entry his crypto stash while serving his prison sentence.

  • German prosecutors within the Bavarian metropolis of Kempten acknowledged Friday that they’ve been unable to design entry to greater than 1,700 bitcoins they acknowledged were seized from a hacker.
  • The hacker, who was 29 years stale at the time, was convicted in April 2014 of laptop fraud, amongst a ramification of fees. He covertly installed application on a ramification of americans’s computers to mine bitcoin, which he stored for himself. He was sentenced to greater than two years in prison.
  • The authorities “seized” greater than 1,800 BTC belonging to him at the time and were in a location to promote 86 bitcoins from the stash in 2018, in accordance to native media. The sale introduced in about 500,000 euros ($602,452). A spokesperson for the Kempten district court acknowledged the rest of the bitcoins were protected by extra than one passwords and IT specialists assigned to the case were unable to crack them.
  • The hacker did not quit the passwords to the authorities, retaining silence while serving his prison sentence. “We asked him nonetheless he didn’t impart. Per chance he doesn’t know,” Sebastian Murer, a prosecutor, suggested Reuters on Friday.
  • As we inform price of bitcoin, the hacker’s BTC stash is price greater than $65 million, a large growth from what it would were in 2014 when the hacker was convicted. With out elaborating additional, Murer acknowledged that the police had secured the bitcoin wallet so the hacker may per chance per chance presumably not be in a location to design entry to the cryptocurrency.

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