UK authorities seized 61,000 BTC (around US$1.8bn) re investment scam operated in China

<p>UK authorities seized 61,000 BTC valued at approximately £1.4 billion (or $1.78 billion) related to an investment fraud that operated in China, the Financial Times reported.
</p><p>The FT is gated but other outlets have picked it up. How is BTC involved in all this?</p><ul><li>Zhimin Qian, converted part of the profits from a £5 billion investment scam operated in China between 2014 and 2017 into the top cryptocurrency to facilitate the seamless transfer of funds.</li><li>U.K. police seized four devices in 2018 that contained more than 61,000 BTC, worth 1.4 billion pounds by the time they were all recovered in July 2021</li><li>

Zhang stole roughly 5 billion pounds from more than 128,000 investors</li></ul><p>Is BTC being sold on this news? If so, its being unfairly maligned IMO. Check this out:</p><ul><li>She also tried to buy a London property for 12.5 million pounds in 2018, but the law firm handling the purchase could not verify the bitcoin's source.</li></ul><p>Its not BTC that's at fault, it's the criminals! </p>

This article was written by Eamonn Sheridan at

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