German police confiscate 1,700 bitcoins, owner refuses to give out password

The story takes place in Kempten, a town in Bavaria, in southern Germany. A citizen, whose name has not been revealed by justice, was sentenced to nearly two years in prison. He was found guilty of installing bitcoin mining programs on other people’s computers, allowing him to increase his units of the valuable cryptocurrency.

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A jackpot of several million under lock and key

Following the procedure, the German justice confiscated the bitcoins collected. But at the moment, she still can not get hold of it: the man refuses to communicate the password which allows access to the jackpot amounting to … nearly 56 million euros.

“We asked him, but he didn’t answer”, explained Sebastian Murer, the prosecutor in charge of the case. “Maybe he doesn’t know him.” The some 1,700 bitcoins collected therefore remain blocked for the moment in a protected digital wallet.

The surge in the value of bitcoin brings in any case its share of the most incredible stories. Discarded hard drive, lost password, broken computer, etc. Bitcoins lost in the wild seem to be increasing in number. According to New York Times, 20% of existing bitcoins are not in the possession of their owner, which represents no less than 115 million euros.

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