The authorities of Bavaria announced to have attracted €12 million via selling confiscated bitcoins and altcoins, making it the largest sale of its kind in Germany.

In June 2017, the Central Anti-Cybercrime Office of Bavaria arrested an alleged operator of the portal LuL.to, which illegally sold more than 200,000 e-books and audiobooks to at least 30,000 customers.

The proceeds from the sale of pirated content were exchanged and deposited in cryptocurrencies. Law enforcement authorities in Bavaria managed to gain access to these assets, which were subsequently sold in the period from late February to late April. In total, 1312 bitcoins, 1399 Bitcoin Cash, 1312 Bitcoin Gold and 220 Ether were sold.

It is worth noting that the suspect in the organization of the pirate portal has not yet been found guilty. Nevertheless, the seized bitcoins were sold in accordance with the laws of Bavaria, allowing to sell at auction perishable or high-volatile goods, such as food or cars, which are losing much in value over time.

Since all cryptocurrencies are subject to the risk of high price fluctuations or even its complete loss, Bavaria's Central Anti-Cybercrime Office requested permission for immediate sale of confiscated crypto assets, the Bavarian prosecutor's office explained.

This is the highest proceeds from sale of seized crypto assets the German authorities have ever received. The previous record belonged to the authorities of Hessen, where at the end of 2017 confiscated bitcoins were sold for almost €2 million.