Experts from the analysis platform Arkham Intelligence have discovered an address that is connected to the British government.
According to data from March 4, there are 61,245 Bitcoins (BTC) at the UK government address, which is equivalent to about $4.1 billion at the time of writing.
The British government is now on Arkham.
The UK Metropolitan Police seized 61,000 Bitcoin (currently worth $4 billion) from Jian Wen and Zhimin Qian in 2018 and gained access to the seized BTC in July 2021.
Qian had reportedly purchased the Bitcoin using funds from an investment scam… pic.twitter.com/BVqRAkE1TW
— Arkham (@ArkhamIntel) March 4, 2024
According to experts, British police seized 61,000 BTC from two Chinese nationals in 2018. According to the source, between 2014 and 2017, the suspect Zhiming Qian bought cryptocurrencies with funds obtained through investment scams and hid from the Chinese authorities for a long time.
“Qian had reportedly purchased the Bitcoin with funds from an investment fraud committed in China between 2014 and 2017 and is a suspected fugitive from the Beijing authorities.”
Arkham Secret Service
Arkham clarified that the government only gained access to the seized Bitcoins in July 2021.
At the end of February, it was announced that the British authorities would have fewer restrictions on confiscating cryptocurrencies. On April 26, 2024, the country will bring into force a law that expands the National Crime Agency's powers to confiscate crypto assets related to suspected illegal activities.
According to the document, local law enforcement agencies can freeze crypto assets associated with criminal activity without conviction.
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