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German Authorities Was Not Able To Retrieve 1,700 Bitcoins Secured By Convicted Hacker

German authorities have been unable to gain access to over 1,700 bitcoins (BTC) which was under the account of a convicted hacker, who kept quiet about how to access his crypto stash while serving his prison sentence.

German prosecutors in the Bavarian town of Kempten announced Friday that they have been unable to gain access to more than 1,700 bitcoins they said were seized from a hacker.

The hacker, who was 29 years old at the time, was convicted in April 2014 of computer fraud, among other charges. He stealthily installed malware on other people’s computers to mine bitcoin, which he kept for himself. He was sentenced to more than two years in jail.

The police “seized” more than 1,800 BTC from him at the time and were able to sell 86 bitcoins from the stash in 2018, as claimed by local media. The sale made about 500,000 euros ($602,452). 

A representative for the Kempten district court stated that the rest of the bitcoins were guarded by multiple passwords and IT experts assigned to the case have been unable to crack them.

The hacker did not hand over the passwords to the authorities, keeping silent while serving his prison sentence. “We asked him but he didn’t say. Perhaps he doesn’t know,” Sebastian Murer, a prosecutor, informed Reuters on Friday.

At the current price of bitcoin, the hacker’s BTC stash is worth more than $65 million, a massive growth from what it would have been in 2014 when the hacker was convicted. 

Without embellishing further, Murer stated that the police had secured the bitcoin wallet so the hacker will not be able to gain access to the cryptocurrency.

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