Security· ★★★★· neutral·

Dispute over 61,900 BTC from Chinese Ponzi scheme: who gets the gains?

  • —Qian Zhimin raised 40 billion yuan through Ponzi schemes in 2014–2017
  • —More than 100,000 investors lost almost 20 billion yuan
  • —The seized BTC is now worth roughly 200 times its purchase price
  • —A Tianjin court accepted a request to confiscate 61,900 BTC
Why it matters: The outcome will determine whether victims share in bitcoin's appreciation and how courts divide seized crypto between states.
#BTC
Source: BTC-ECHO
More on this
Security · Oct 20
CFTC wins $288M judgment against EminiFX in Ponzi scheme case
 Security · Sep 17
Operator of $35.6M Ponzi scheme sentenced to 11 years in prison
 Security · Sep 17
SEC accuses New Jersey resident of $16 million Ponzi scheme