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There's only one problem: they can't unlock the money because he won't give them the .","articleBody":"German prosecutors have confiscated more than EUR 50 million&nbsp;(roughly Rs. 440 crores) worth of Bitcoin from a fraudster. There's only one problem: they can't unlock the money because he won't give them the .\r\n\r\nThe man was sentenced to jail and has since served his term, maintaining his silence throughout while police made repeated failed efforts to crack the code to access more than 1,700 Bitcoin, said a prosecutor in the Bavarian town of Kempten.\r\n\r\n"We asked him but he didn't say," prosecutor Sebastian Murer told Reuters on Friday. "Perhaps he doesn't know."Elon Musk Dogecoin on Twitter Makes Cryptocurrency Soar 50 Percent\r\n\r\nBitcoin is stored on software known as a digital wallet that is secured through encryption. A is used as a decryption key to open the wallet and access the Bitcoin. When a is lost the cannot open the wallet.\r\n\r\nThe fraudster had been sentenced to more than two years in jail for covertly installing software on other computers to harness their power to "mine" or produce Bitcoin.\r\n\r\nWhen he went behind bars, his Bitcoin stash would have been worth a fraction of the current value. The price of Bitcoin has surged over the past year, hitting a record high of $42,000 (roughly Rs. 30.6 lakhs) in January. It was trading at $37,577 (roughly Rs. 27.3 crores) on Friday, according to cryptocurrency and blockchain website Coindesk.India Will Explore Blockchain for Digital Economy, Says Union Minister\r\n\r\nProsecutors have ensured the man cannot access the largesse, however.\r\n\r\n© Thomson Reuters 2021\r\n\r\n\r\nIs LG Wing's unique design alone enough to help it succeed in India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, the episode, or just hit the play button below.\r\n\r\n\r\n links may be automatically generated - see our ethics statement for details.","keywords":"Bitcoin,blockchain,cryptocurrency","url":"https:\/\/www.gadgets360.com\/internet\/news\/bitcoin-worth-eur-50-million-seized--police-fraudster-wont-give--2363900","inLanguage":"en","mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/www.gadgets360.com\/internet\/news\/bitcoin-worth-eur-50-million-seized--police-fraudster-wont-give--2363900"},"author":[{"@type":"Person","name":"Reuters"}],"image":{"@type":"ImageObject","url":"https:\/\/i.gadgets360cdn.com\/large\/bitcoin_colours_reuters_1611921415626.jpg","width":"1200","height":"800","caption":"Bitcoin is stored on software known as a digital wallet that is secured through encryption"},"publisher":{"@type":"Organization","name":"Gadgets 360","url":"https:\/\/www.gadgets360.com","logo":{"@type":"ImageObject","url":"https:\/\/cdn.gadgets360.com\/gadgets360_logo.png","width":160,"height":45}},"alternativeHeadline":"Police Seize Over EUR 50 Million of Bitcoin! Now, Where's the ?","articleSection":"Internet","thumbnailUrl":"https:\/\/i.gadgets360cdn.com\/large\/bitcoin_colours_reuters_small_1611921508864.jpg"} English Edition हिंदी বাংলা தமிழ் తెలుగు മലയാളം ગુજરાતી मराठी Deutsch Française googletag.cmd.push(function () { googletag.display('adslot728x90ATF'); }); googletag.cmd.push(function () { googletag.display('adslot1x1ATF'); }); Home Internet Internet News Bitcoin Worth Over EUR 50 Million Seized From Fraudster Who Refuses to Give Up {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@type":"WebPage","@id":"https://www.gadgets360.com","name":"Home"}},{"@type":"ListItem","position":2,"item":{"@type":"WebPage","@id":"https://www.gadgets360.com/internet","name":"Internet"}},{"@type":"ListItem","position":3,"item":{"@type":"WebPage","@id":"https://www.gadgets360.com/internet/news","name":"Internet News"}},{"@type":"ListItem","position":4,"item":{"@type":"WebPage","@id":"https://www.gadgets360.com/internet/news/bitcoin-worth-eur-50-million-seized--police-fraudster-wont-give--2363900","name":"Bitcoin Worth Over EUR 50 Million Seized From Fraudster Who Refuses to Give Up "}}]} Bitcoin Worth Over EUR 50 Million Seized From Fraudster Who Refuses to Give Up The German police made repeated failed efforts to crack the code to access more than 1,700 bitcoin. By Reuters | Updated: 5 February 2021 16:28 IST Bitcoin is stored on software known as a digital wallet that is secured through encryption Highlights The man was sentenced to jail and has since served his term Prosecutors have ensured the man cannot access the largesse When a is lost the cannot open the Bitcoin wallet ment googletag.cmd.push(function () { googletag.display('adslot160x600'); }); German prosecutors have confiscated more than EUR 50 million (roughly Rs. 440 crores) worth of Bitcoin from a fraudster. There's only one problem: they can't unlock the money because he won't give them the . The man was sentenced to jail and has since served his term, maintaining his silence throughout while police made repeated failed efforts to crack the code to access more than 1,700 Bitcoin, said a prosecutor in the Bavarian town of Kempten. "We asked him but he didn't say," prosecutor Sebastian Murer told Reuters on Friday. "Perhaps he doesn't know." Elon Musk Dogecoin on Twitter Makes Cryptocurrency Soar 50 Percent Bitcoin is stored on software known as a digital wallet that is secured through encryption. A is used as a decryption key to open the wallet and access the Bitcoin. When a is lost the cannot open the wallet. The fraudster had been sentenced to more than two years in jail for covertly installing software on other computers to harness their power to "mine" or produce Bitcoin. When he went behind bars, his Bitcoin stash would have been worth a fraction of the current value. The price of Bitcoin has surged over the past year, hitting a record high of $42,000 (roughly Rs. 30.6 lakhs) in January. It was trading at $37,577 (roughly Rs. 27.3 crores) on Friday, according to cryptocurrency and blockchain website Coindesk. India Will Explore Blockchain for Digital Economy, Says Union Minister Prosecutors have ensured the man cannot access the largesse, however. © Thomson Reuters 2021 Is LG Wing's unique design alone enough to help it succeed in India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, the episode, or just hit the play button below. links may be automatically generated - see our ethics statement for details. Cryptocurrency Prices across Indian exchanges Comments var page_url = 'https://www.gadgets360.com/internet/news/bitcoin-worth-eur-50-million-seized--police-fraudster-wont-give--2363900'; var page_identifier = 'story-comment-2363900'; var page_title = 'Bitcoin+Worth+Over+EUR+50+Million+Seized+From+Fraudster+Who+Refuses+to+Give+Up+'; var clientid = 'gadgets-engcont-desk-d3000712891285b76c764ccf29228976'; var platform = 'desktop'; var urlfrm = ''; (function() { var d = document, s = d.createElement('script'); s.src = 'https://www.gadgets360.com/assets/forum/js/min/comment-embed-min.js?v=20250528.01'; s.setAttribute('data-timestamp', +new Date()); (d.head || d.body).appendChild(s); })(); For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube. Further reading: cryptocurrency Mi 11 Price in Europe Tipped Ahead of February 8 Launch, Significantly Higher Than China Prices window._rrCode = window._rrCode || []; _rrCode.push(function () { window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-below', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix' }); }); Related Stories Bitcoin will Hold Strategic Importance to Strengthen US' Position Against China, Says JD Vance 29 May 2025 Crypto Price Today: Bitcoin, Ether Maintain Profit Streak Alongside Most Altcoins as Market Consolidates 28 May 2025 Trump Media to Raise $2.5 Billion to Invest in Bitcoin 28 May 2025 Elon Musk Says X Money Payments Will Launch in 'Very Limited Access Beta' Soon 27 May 2025 Bitcoin Holds Steady at $109,400 After Reaching New All-Time High; Altcoins Maintain Gains 26 May 2025 Bitcoin Worth Over EUR 50 Million Seized From Fraudster Who Refuses to Give Up Comment var ndtv_thumb_src = 'https://i.gadgets360cdn.com/large/bitcoin_colours_reuters_small_1611921508864.jpg'; var ndtv_full_src = 'https://i.gadgets360cdn.com/large/bitcoin_colours_reuters_1611921415626.jpg'; var alsoseel = document.getElementsByClassName("alsosee").length; if(alsoseel!==undefined & alsoseel>=1){ for(var i=0;i<alsoseel;i++){ x = document.getElementsByClassName("alsosee")[i]; if(x!==undefined & x.innerHTML.trim() != ''){ var alsosee = x.innerHTML; alsosee = '<strong><i class="sprite"> Also see' + alsosee; document.getElementsByClassName("alsosee")[i].innerHTML = alsosee; } else { document.getElementsByClassName("alsosee")[i].remove(); } } } Facebook Tweet Snapchat LinkedIn Reddit Google News ment googletag.cmd.push(function () { googletag.display('adslot300x250ATF'); }); Featured New Era of AI PCs Begins: AMD Ryzen™ AI 300 Series Puts Smart Features in Your Hands OPPO K13 Overview: Meet the Undisputed OP Smartphone with Lag Killer Performance at Just Rs. 17,999 [Partner Content] OPPO K13 - The Undisputed OP Smartphone | Lag Killer Performance | Best in Segment Follow Us Latest Videos 05:25 Realme GT 7 Dream Edition First Impressions: Is This the ULTIMATE Best Phone Under 50k in India? 05:13 6 Mind-Blowing Reasons the Insta360 X5 is the BEST Camera of 2025 Yet! 04:28 Realme GT 7T First Look | Massive 7000mAh Battery, 120-watt Charging, and Much More 07:20 Realme GT 7 Review | Massive 7000mAh Battery, 6000nits Display | Is This The New Flagship Killer? 03:46 Realme GT 7 First Impressions: 7000mAh Battery + Flagship Power! 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