Chinese fraudster Qian Zhimin has been sentenced to 11 years and 8 months in London for orchestrating a Ponzi scheme targeting over 120,000 elderly Chinese citizens. He carried out the scam through fake health and crypto mining projects, converting the proceeds into Bitcoin for storage. In 2024, UK police seized 61,000 BTC worth approximately $6.3 billion from his residence, setting a new record for crypto confiscation in the country. The ownership of these assets remains disputed, with China and the UK locked in negotiations over the distribution rights of the BTC. Some UK officials have proposed adding it to the national reserves. (Decrypt) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=51699