United Kingdom officials are weighing to keep billions -billion dollars in the gains from the seized bitcoin tied to a massive fraud case, rather than re -re -given the full amount to the victims, according to the Financial Times.
According to a Thursday Financial Times ReportUK High Court may decide to pay only the original investment amount, around 640 million British pounds ($ 862 million), to victims of scam. This is in spite of the seized 61,000 Bitcoin (Btc) worth nearly $ 7.24 billion at the time of writing, resulting in an excess of approximately $ 6.4 billion.
The Bitcoin was seized in 2018 in North London from scammers who deceive 128,000 investors in China. Some Treasury officials are privately argued if the windfall can help offset a budget deficiency of up to 30 billion pounds ($ 40.5 billion). Under Laws.
In addition, FT also reported that other government officials have urged caution because the decision is likely to lead to a complex legal battle with the Bitcoin proceeds that can be dragged for years. The Treasury is ordered not to use funds in its calculations.
Related: US DOJ files to occupy $ 225m in crypto tied to pork killing schemes
Crypto’s largest seizure in history
The property -the owners were recovered from the National Zhimin Qian and his Malaysian assistant Seng Hok Ling, who promised to sin earlier this week. The local police force announced It “has done what is believed to be the one biggest cryptocurrency in the world.”
The seizure complies with a seven-year investigation by the London Metropolitan Police’s Economic Crime Team in International Money Laundering. Qian begged the guilty to get and have a criminal owner, while Ling asked for a sin to transfer the criminal ownership.
Between 2014 and 2017, Qian led a huge scheme in China’s fraud, the sliphoning of property from more than 128,000 victims. These owners were later stored as Bitcoin when he fled China with false documents and entered the United Kingdom.
In September 2018, Qian attempted to overthrow the proceeds by obtaining the property. Police found him by monitoring the ling, leading to their arrest in April 2024, leading to the seizure of the enemypted devices, cash, gold and cryptocurrency.
Related: Germany takes $ 38m to crypto from bybit hack-link that exch exchange
The latest in many crypto seizures
It is far from the first big crypto seizure. Earlier this month, the Canadian police Took $ 40 million to crypto from tradeogrecriticized by supporters of the exchange as heavy hand due to lack of Learn your customer checks.
In mid -August, the US Justice Department Authorized the seizure of more than $ 2.8 million in cryptocurrencyIncludes cash and other possessions, as part of a criminal case against a alleged ransomware operator. In early July, Bloomberg reported that US Secret Service Took nearly $ 400 million in digital assets in the past decade.
Sweden’s Minister also calls for local authorities that Focus on crackdowns that may yield larger seizures of assetsIncludes cryptocurrency.
In June, the US Crypto Exchange Coinbase announced that it helped to The US Secret Service seized $ 225 million in crypto allegedly stolen by scammersThe biggest seizure of the agency’s crypto to date.
Magazine: ‘Big Secret’ crypto hack of Thailand, RWA tokens of Chinese: Asia Express
