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Germany: Police seize bitcoins worth €2 billion (www.dw.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Germany: Police seize bitcoins worth €2 billion::German authorities have seized 50,000 bitcoins, worth some €2 billion, in what could be the largest seizure to date in the country.

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[–] makeasnek@lemmy.ml 21 points 9 months ago* (last edited 9 months ago) (1 children)

They handed over their own BTC over to the government. If you have the private keys, you control the coin. If you don't, no amount of money or guns can make that coin move thanks to math and physics. However, a $5 wrench rammed repeatedly into your head may make you divulge those private keys. Strength of encryption is rarely the weakest link in any modern cryptographic system. But that wrench used on anybody who doesn't know the keys? Useless. It's pretty powerful stuff in that regard.

[–] adam@doomscroll.n8e.dev 5 points 9 months ago

There's always a relevant XKCD.

https://xkcd.com/538/