China Demands Return of 61,800 BTC Seized in UK Fraud Investigation
A Chinese court has initiated proceedings to recover assets linked to an alleged CNY 40.3 billion fundraising scheme operated by Qian Zhimin between 2014 and 2017. The seized assets include over 61,800 Bitcoin, 72,700 Bitcoin Cash, 3.6 million XRP, and other cryptocurrencies, cash, and property. Investors and other interested parties have a six-month window to participate in the asset confiscation proceedings.
Key points
- Chinese court case targets 61,800+ Bitcoin from alleged CNY 40.3B fraud
- Assets also include Bitcoin Cash, XRP, and other cryptocurrencies
- Six-month participation window for investors in confiscation proceedings
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