China Targets 61,896 Bitcoin Still Held by British Authorities: Report

Chinese prosecutors are seeking to confiscate 61,896 bitcoin worth approximately $5.1 billion, currently held by British authorities, after one of the world’s largest cryptocurrency seizures. The assets trace back to Qian Zhimin, convicted in Britain for handling criminal proceeds from a Chinese investment fraud. A recent U.K. court ruling has complicated the battle over who gets the money. A fortune of nearly 62,000 bitcoin , seized by British police from a convicted Chinese fraudster, is now at the center of an international fight over billions of dollars.