German Police Seized $60 Million in Bitcoin but the Owner Won't Give Up the Password

A German man was arrested and served time in jail for covertly installing bitcoin mining software on people’s computers.

The German police seized the man’s bitcoin, but have no access to it because he refuses to give them the password!

The bitcoin is now worth $60 million.

“We asked him but he didn’t say,” said German prosecutor Sebastian Murer.

It looks like we have a Mexican standoff here, in Germany.

The owner can’t access the bitcoin because the police have his digital wallet. The police can’t access the bitcoin because the owner has the password.

What a world!

Perhaps the authorities will settle with the man, and agree to give him a percentage of the bitcoin in exchange for the password.

Or maybe this will end up being a $60 million stalemate.

Who knows?

One thing is certain — police can’t seize and sell bitcoin as easily as they could a car or a sailboat, that’s for sure.

Just another reason bitcoin has been rising and recently hit a record high of over $44,000, as more and more people find out about it and how it works.

For those considering investing in Bitcoin, beware of the volatility! Bitcoin can jump to record highs, and then suddenly lose half it’s value before climbing again. That’s why the famous phrase with Bitcoin is HODL - hold on for dear life!

P.S. Grab this super fresh Daily Dropout hoodie!

Use the code dropoutz10 to get 10% off!