Legal battle intensifies over £3bn bitcoin haul seized by British police

A legal battle is escalating in the UK over a £3.2 billion bitcoin haul seized by police from fraudster Zhimin Qian, as thousands of victims of a Chinese Ponzi scheme challenge a government compensation plan that could allow the Treasury to retain much of the windfall, while prosecutors say they are concerned that the section 281 claims would benefit “a small subset of victims and their litigation funders”.

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