Victims of fraud in China turned to authorities to return 61,000 BTC

In China, victims of one of the largest fraudulent schemes organized by Tianjin Lantian Gerui Electronic Technology faced huge financial losses. The amount of damage is estimated at more than $6 billion. At their request, China's Ministry of Foreign Affairs and the country's Ministry of Public Security received more than 2,500 signatures from victims who insist on the return of 61,000 bitcoins.

In 2018, a raid was carried out during which bitcoins were discovered from Jian Wen, a British woman of Chinese origin, and her employer Zhimin Qian. Wen was arrested and recently found guilty by a British court of money laundering transactions. As a result, a large number of bitcoins were confiscated.

The affected victims are actively demanding cooperation between the Chinese authorities and the UK judiciary. They are ready to provide evidence confirming their rights to the confiscated bitcoins. However, they are faced with attempts to transfer ownership of Bitcoin to the UK government, which they strongly oppose.

In response to the current situation, Chinese authorities formed a working group that conducted a survey of more than 207,000 investors affected by this fraudulent scheme. The group's efforts resulted in the recovery of about 8% of the lost funds, representing just 5% of the $309 million investment. Despite this, most victims still expect significant compensation compared to the total damages of $6.2 billion.

The situation surrounding the lost 61,000 Bitcoins is becoming an example of the complex legal and international issues associated with cryptocurrencies and fraud. While victims continue to fight to get their funds back, the outcome of the case remains uncertain, highlighting the importance of international cooperation in regulating and monitoring cryptocurrency transactions.