Germany has put up a significant amount of Bitcoin (BTC) for sale after confiscating it during an investigation into an illegal movie streaming site. According to Arkham, a blockchain analytics firm, the German government has moved more than $195 million worth of Bitcoin to six crypto exchanges, including Coinbase, Kraken, and Bitstamp over the past two days.

The German government has sent $65 million in BTC to two likely exchange deposits, including Coinbase, in the past two hours. Yesterday, they moved $600 million worth of BTC, sending $130 million to four likely exchange deposits, including Kraken and Bitstamp. Despite these transfers, Germany still holds over 47,179 BTC, which is worth $3.06 billion.

The Bitcoin being sold was seized by law enforcement authorities during their investigation into Movie2k.to. The illegal streaming site was accused of distributing over 880,000 pirated films between 2008 and May 2013.

The Dresden Public Prosecutor’s Office revealed that the operators of the site purchased Bitcoin using the proceeds of their illegal activities. The Bitcoin seizure in connection with the investigation is the largest in Germany to date, with nearly 50,000 BTC worth $2.17 billion confiscated at the time. The seized assets are now valued at $3.25 billion.

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