German Prosecutors Confiscate Online Scammer's Bitcoin

Bitcoin (Forbes)

JAKARTA - Recently, a public prosecutor in Germany, confiscated a bitcoin asset of 50 million euros (around Rp.843 billion). The digital currency was confiscated from a con artist who is now in prison.

This incident occurred in the city of Kempten, Germany. A con man they dragged into the prison was silent and did not give his password. The police were unable to open the code to access around 1,700 bitcoins.

"We asked him but he didn't answer. Maybe he doesn't know (the password), "said prosecutor Sebastian Murer as quoted by Reuters on Monday, February 8.

The prosecutor also added that it was confirmed that the man could not access his bitcoin. For information, bitcoin crypto money storage is usually stored in digital wallets with an encryption security system.

To open it, a decryption password is required which will allow its users to access bitcoins. If the password is lost, bitcoin owners will no longer be able to open their digital wallets.

The prosecutor sentenced one conman to imprisonment of more than 2 years. The mistake was that he installed software on someone else's computer so he could "mine" or mine as much bitcoin as possible.

When the man was sent to a prison cell, the price of bitcoin had skyrocketed in the past year. Bitcoin's increase reached US $ 42,000 (approximately Rp.588 million) in January.

Elon Musk is one of the people who made bitcoin value go up after he put the hashtag #bitcoin in his bio profile on his Twitter account.

Based on the Coindesk report, the value of bitcoin transactions has been traded at a price range of 37,577 US dollars, which is equivalent to Rp526 million this week.