UK Seeks to Pay Back Chinese Investors Swindled in $6.8 Billion Bitcoin Fraud
Southwark Crown Court in London
Photographer: Andrew Aitchison/Corbis/Getty ImagesUK prosecutors are looking to confiscate Bitcoin worth about $6.8 billion tied to a massive fraud in China uncovered at criminal trials, as they plan a victim compensation plan to repay duped investors.
The UK police unearthed 61,000 Bitcoin in 2018 during a money laundering investigation against two Chinese women linked to the fraud that impacted around 128,000 investors. Prosecutors are planning a victim compensation program, a lawyer said during a court hearing on Wednesday while several investors have applied to the court to claw back their money.