Chinese authorities are seeking to confiscate approximately $5 billion worth of Bitcoin, as well as millions of XRP and Dogecoin tokens, in connection with one of the largest cryptocurrency fraud cases in history. The Tianjin No. 2 Intermediate People’s Court has accepted a confiscation application involving 61,896 BTC seized from convicted money launderer Qian Zhimin. Between 2014 and 2017, she orchestrated an investment fraud scheme of approximately $6 billion through Tianjin Lantian Gerui Electronic Technology, affecting more than 102,000 investors. She was sentenced to 11 years and 8 months in prison by a British court in November 2025.
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