UK Weighs if China Fraud Scheme Victims Get Current Value of Seized 61K Bitcoin

Officials Warn Against Using Seized BTC to Fill UK Fiscal Gap Amid Legal Uncertainty - Coin Surges

The UK Treasury is reportedly considering keeping most of the 61,000 bitcoins seized from Chinese fraudsters in 2018, potentially to help address fiscal shortfalls. However, officials have warned against relying on the crypto due to the likelihood of a lengthy legal battle. Legal Warnings Over 61,000 BTC Seizure The United Kingdom (UK) Treasury is reportedly […] Read Entire Article The post Officials Warn Against Using Seized BTC to Fill UK Fisc…

UK Debates Fate Of $7B Seized Bitcoin In Chinese Fraud Case » News.ng

United Kingdom authorities are facing a delicate decision over the fate of one of the largest cryptocurrency hauls in history. Officials are weighing whether victims of a massive Chinese fraud scheme should receive only the original value of their stolen investments, or whether they are entitled to the full present-day worth of the Bitcoin recovered. The case centers on 61,000 Bitcoin seized in 2018 in north London, linked to a scam that defraud…

UK officials debate fate of $7.24B seized Bitcoin in historic fraud case

UK may return £640M to fraud victims but keep $6.4B gains from seized Bitcoin, sparking debate. Largest crypto seizure ever: 61,000 BTC worth $7.24B confiscated in UK fraud case. Officials warn legal battles could delay victim payouts if UK keeps Bitcoin windfall. United Kingdom officials are considering whether to retain billions of dollars in profits from a record-breaking Bitcoin seizure tied to a massive international fraud scheme, rather th…

UK weighs if China fraud scheme victims get current value of seized 61K Bitcoin

British officials may retain roughly $6.4 billion in gains from Bitcoin confiscated in a major China-linked scam rather than return the windfall to defrauded investors.

The British Treasury Will Keep $7 Billion from a Historic Bitcoin Seizure in the UK - The Cryptocurrency Post

The United Kingdom government has stated its intention to keep 61,000 bitcoins, valued at approximately $7 billion. These digital assets stem from one of the largest operations against financial fraud in the country’s history. The decision comes after a lengthy judicial process that culminated in the conviction of those involved in a massive fraud scheme. The information was confirmed by the Crown Prosecution Service (CPS). A fortune for the sta…