Largest crypto fraud: 61,000 BTC seized in Britain

The UK has summed up one of the most high-profile cases in the history of crypto fraud: two participants in a large-scale scheme – Zhimin Qian and Hock Ling Seng – were found guilty of defrauding more than 128,000 Chinese investors out of $6.3 billion between 2014 and 2017. I am confident that this precedent shows the ability of international law enforcement agencies to work together on a global level to achieve justice for five victims of financial crime.For five victims of financial crime. years, the defendants hid in the UK, trying to launder huge sums through luxury real estate and complex money laundering schemes.During the operation, the police managed to arrest the attackers and confiscate over 61,000 BTC, which became the largest such crypto confiscation in the world. A London court handed down strict sentences: the main defendant in the case received 11 years and 8 months in prison, her accomplice – 4 years and 11 months.The key feature of the case is the fate of the seized funds: bitcoins will not replenish the government’s coffers. The main priority is to compensate victims for the amount of the initial investment, and the possible balance will be distributed among law enforcement agencies within the framework of standard POCA/ARIS procedures.