UK Police Seize 61,000 Bitcoins in Illegal Fundraising Case

IN 2024-04-07 86

According to PANews, in a case of illegal fundraising involving 43 billion yuan, it is estimated that less than 5% can be refunded domestically. Currently, 61,000 bitcoins have been seized by the UK police. A hearing on the proceeds of the crime will be held in September 2024. According to public searches by Caixin, there are very few successful cases of cross-border asset recovery in China. Furthermore, sharing is the mainstream method of cross-border asset recovery and disposal of confiscated assets, according to international practice. The International Cooperation Department of the Chinese Ministry of Justice replied that it does not have specific case information and it is not convenient to disclose it.

In related news, 61,000 bitcoins have been frozen in the world's largest money laundering case, with the main culprit fleeing with $6.3 billion.