German police can't access $68 million worth of seized bitcoin

German police have seized 1,700 bitcoin (currently worth about $68 million) from a hacker, but they cannot access the cryptocurrency because the fraudster won't share the "password" (presumably the associated private keys).

"We asked him but he didn't say," prosecutor Sebastian Murer told Reuters on Friday. "Perhaps he doesn't know."

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The man was sentenced to jail for more than two years. He was arrested for hacking other people's computers and using them to mine bitcoin.

While the authorities can't access the bitcoin, they have ensured the fraudster cannot access it either, according to the report, although it is not clear how the police have ensured so.

Last month, German-born programmer Stefan Thomas, living in the U.S., made headlines for not remembering the password to unlock his 7,002 bitcoin (currently worth about $281 million).

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.