#China is seeking to confiscate more than 61,800 BTC linked to a $5.7B fraud scheme.
That's a huge Bitcoin stash.
The coins were seized by British authorities, and Chinese prosecutors are now pursuing confiscation through the Chinese courts.
A court has opened a six-month period for victims and other interested parties to join the case.
Important distinction: this doesn't mean 61,800 BTC are about to hit the market.
But the legal battle over who owns this Bitcoin could have major implications for the victims and the eventual control of the coins. $BTC #BTC #bearish
That's a huge Bitcoin stash.
The coins were seized by British authorities, and Chinese prosecutors are now pursuing confiscation through the Chinese courts.
A court has opened a six-month period for victims and other interested parties to join the case.
Important distinction: this doesn't mean 61,800 BTC are about to hit the market.
But the legal battle over who owns this Bitcoin could have major implications for the victims and the eventual control of the coins. $BTC #BTC #bearish