China seeks to seize 61,800 BTC tied to $5.7 billion fraud scheme
Summary
Chinese prosecutors are attempting to confiscate a massive holding of cryptocurrency linked to a multi-billion-dollar fraudulent operation. This legal move follows a recent British court decision determining that Chinese jurisdiction applies to the financial claims of those who lost funds.
Chinese prosecutors are seeking to confiscate more than 61,800 Bitcoin tied to a $5.7 billion fraud scheme, days after a U.K. court ruled Chinese law governs victims’ claims to the coins.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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