The decision concerns 61,000 BTC seized by the Metropolitan Police in its investigation into Zhimin Qian, who pleaded guilty to defrauding thousands of people in China. A London court ruled that Chinese law governs fraud victims’ claims to 61,000 bitcoin, worth about £3.8 billion, because the underlying scheme and losses occurred in China. Zhimin Qian pleaded guilty to defrauding more than 128,000 investors through a Ponzi scheme before converting the proceeds into bitcoin and fleeing to Britai…
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