China seeks to confiscate $5 billion in Bitcoin and other cryptocurrencies in fraud case
Chinese authorities are seeking to confiscate approximately $5 billion worth of Bitcoin, XRP, Dogecoin, and other cryptocurrencies through the Tianjin No. 2 Intermediate People's Court in connection with one of the largest cryptocurrency fraud cases in history. The case involves Zhimin Qian, who was jailed in the UK for money laundering, with a British High Court ruling that Chinese law will govern claims over the seized assets.
