#ChinaSeeksToSeize61800BTC
๐จ China moves to seize 61,800 $BTC !
Chinese prosecutors are seeking to confiscate over 61,800 $BTC (worth billions) tied to a massive $5.7 billion fraud scheme.
The case involves Qian Zhiminโs company that raised funds from 100,000+ investors between 2014-2017 via unlicensed high-return products. The BTC (plus other crypto) was seized in the UK after he fled. A Chinese court has accepted the confiscation request, with a 6-month window for victims to join.
This is one of the largest $BTC seizures ever pursued. Governments worldwide are getting serious about tracking and claiming crypto from crime. For the market, it means more supply risk if these coins eventually hit exchanges. Long-term, it reinforces that โnot your keys, not your coinsโ still matters โ but also that on-chain transparency cuts both ways. Stay sharp, stack smart. โก
#Bitcoin #BTC #China #CryptoNews #CryptoSeizure
๐จ China moves to seize 61,800 $BTC !
Chinese prosecutors are seeking to confiscate over 61,800 $BTC (worth billions) tied to a massive $5.7 billion fraud scheme.
The case involves Qian Zhiminโs company that raised funds from 100,000+ investors between 2014-2017 via unlicensed high-return products. The BTC (plus other crypto) was seized in the UK after he fled. A Chinese court has accepted the confiscation request, with a 6-month window for victims to join.
This is one of the largest $BTC seizures ever pursued. Governments worldwide are getting serious about tracking and claiming crypto from crime. For the market, it means more supply risk if these coins eventually hit exchanges. Long-term, it reinforces that โnot your keys, not your coinsโ still matters โ but also that on-chain transparency cuts both ways. Stay sharp, stack smart. โก
#Bitcoin #BTC #China #CryptoNews #CryptoSeizure