UK To Compensate Victims of $7 Billion Bitcoin Scam

A landmark case has seen authorities in the UK seize nearly $6.8 billion worth of Bitcoin, belonging to Zhimin Qian – accused of orchestrating a massive fraudulent investment scheme in China. The seizure has sparked debates about how to allocate these funds and provide compensation to the victims, estimated at over 128,000 individuals. 61,000 BTC have been recovered from this case, making it one of the largest asset recoveries globally. The UK government is now deciding on using the seized Bitcoin for victim restitution, but legal challenges remain over the proper allocation and potential impact on international regulatory practices.