An investigation in the eastern German state of Saxony led to the temporary seizure of 50,000 Bitcoins, believed to be the largest batch of Bitcoins seized in Germany to date. Kay Anders, spokesman for the Saxony State Criminal Police (LKA), confirmed to the dpa news agency on Tuesday that the bitcoins were worth about 2 billion euros ($2.17 billion) based on Tuesday's exchange rate.
A suspect in the investigation has voluntarily handed over virtual currencies to the Federal Criminal Police Office (BKA), the spokesman said.
The investigation is targeting a 40-year-old man and a 37-year-old man. According to LKA, the two men allegedly ran a piracy portal until the end of May 2013 and allegedly used the proceeds to purchase the bitcoins.
The investigation by the Prosecutor General's Office in Dresden, LKA Saxony and the tax investigation department of the Tax Office in Leipzig was supported by the BKA, the FBI and a Munich IT specialist company, the spokesman said.
No charges have been filed against the men, according to Patrick Pintaske, a spokesman for the Dresden prosecutor's office.
According to LKA Saxony, the Bitcoin seizure by law enforcement authorities is the most extensive in Germany to date.
One of the men transferred Bitcoins to BKA’s so-called wallet (virtual currency account). The agency said it has not yet made a final decision on cashing out Bitcoin.