The government began sending assets to crypto exchanges last week following the seizure of 50,000 BTC from piracy site Movie2k in January.
German government-labeled addresses appeared to send another 400 BTC to Coinbase and Kraken Tuesday morning, indicating a potential intention to sell the assets and following substantial transfers of its seized bitcoin last week, according to on-chain analytics provider Arkham.
The German Federal Criminal Police Office sent 200 BTC to each crypto exchange at around 7:38 a.m. UTC, the blockchain analytics platform's data shows. On June 18, addresses labeled by Arkham as belonging to the German government began making small apparent internal test transactions, before making further likely test transactions of 0.001 BTC to Bitstamp, Kraken and Coinbase-labeled addresses, as well as the unlabeled “139Po” address.
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