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UK Court Blocks $5B Bitcoin Claim
A UK court blocked Chinese fraud victims from reclaiming $5 billion in seized Bitcoin, likely letting the government keep it.
Key points
- A UK court blocked Chinese fraud victims from reclaiming $5 billion in seized Bitcoin, according to @WatcherGuru.
- The Bitcoin was seized in 2018 from a Chinese investment fraud, about 61,000 bitcoin, worth $5.1b at $83,400 today.
- The ruling "likely" allows the UK government to keep the seized Bitcoin.
Key points and the reaction summary are written by AI from the posts on this page. Check the original post. How we use AI
Original post
Top replies on X
Reaction on X: Replies overwhelmingly criticized the ruling, calling it state-sanctioned theft and asking whether the UK government is the bigger fraud; one reply noted the Bitcoin was seized in 2018 from a Chinese investment fraud and is now worth $5.1b.
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From @NicholasMertenK, @Trippisback, @Seixas_Capital and others. Spam removed, with English and Chinese translations.
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