CX Daily: U.K. Court Accepts Chinese Investor’s Lawsuit Linked to Nearly $4 Billion in Laundered Bitcoin

Bitcoin /

U.K. court accepts Chinese investor’s lawsuit linked to nearly $4 billion in laundered Bitcoin

A British court has agreed to hear an investor lawsuit requesting the liquidation of a Chinese company that orchestrated a multibillion-dollar fraud that has left around $3.9 billion in Bitcoin out of reach of the scam’s victims in China.

The court’s decision to hear the case marks the beginning of what is expected to be a long cross-border legal slog for those looking to recover the more than 61,000 bitcoins seized by British police following the scam, whose perpetrators embezzled some 43.5 billion yuan ($6.2 billion) from more than 100,000 people in China.