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China Demands UK Return Bitcoin in Fraud Case
Prosecutors in China have requested the return of more than 61,890 Bitcoin, worth about $5.1 billion, seized by UK authorities in a fraud case involving Zhimin Qian. The Tianjin court has accepted the request, starting a six-month window for victims and other affected parties to join the case. The assets were allegedly used in a fraudulent investment scheme run by Qian, which pulled in over 40.37 billion yuan from investors across China between 2014 and 2017. The case centers on assets bought with proceeds from the scheme, including Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin SV, XRP, and Dogecoin. Victims can sign up through a WeChat mini-program to participate in the proceedings.