So, the UK government is thinking about compensating victims of a massive crypto scam involving 61,000 BTC seized from Chinese scammer Zhimin Qian. Big deal, right? 🤑 But here’s the kicker: they might keep a little “souvenir” for themselves. Classic UK Treasury move. 🙄
The Seizure and Conviction: A Tale of Jogging Bottoms and Hidden Wallets 🩳
Apparently, the UK government is “considering” a compensation plan for the victims of this crypto fraud. Stephen Parkinson from the Crown Prosecution Service (CPS) dropped this bombshell in court on Oct. 15, but he was light on the details. Shocking, I know. 🤷♂️
The bitcoins were seized from Zhimin Qian, the mastermind behind an investment scam who fled China after turning investors’ funds into crypto in 2018. The CPS, working with Chinese officials, built a case that led to Qian’s conviction on fraud charges in September. Justice served, but where’s the popcorn? 🍿
According to Bitcoin.com News, some UK officials have floated the idea of using the seized BTC to plug the country’s fiscal deficit. Because, you know, why return it all when you can keep a little for the rainy day fund? 🌧️ But a Financial Times report warns this could tick off the Chinese victims, who think the UK should keep its hands off their money. Fair point. 🤔
Despite the drama, some victims are happy with the court’s outcome. William Glover, a lawyer representing the victims, said:
“We’re pleased with the hearing. The DPP UK has agreed to create a compensation scheme for those who can’t get redress through existing provisions. Baby steps, folks.” 👶
Oh, and guess what? UK authorities also found an extra $90 million in crypto linked to the scam. Martin Evans from the CPS said they accessed the funds after Qian spilled the beans on a Ledger wallet hidden in a pair of jogging bottoms. Yes, jogging bottoms. Who knew scammer fashion was so practical? 🩳
“The Ledger was in a secret pocket in her jogging bottoms during her arrest,” Evans said. Because where else would you hide millions in crypto? 🤦♂️
FAQ 💡
- Why did the UK seize 61,000 bitcoins? Because Zhimin Qian ran a scam and fled China in 2018. Duh. 🚀
- What’s the UK government thinking now? They might use some of the BTC to compensate victims. Or maybe just buy a few extra tea bags. 🍵
- Will victims get their crypto back? The CPS says they’ll create a plan. So, maybe? 🤷♂️
- Why is this controversial? Most victims are Chinese and don’t want the UK profiting from their loss. Fair enough. 🇨🇳
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2025-10-16 12:16