China Seeks to Confiscate Billions in BTC, XRP, DOGE, BCH, BTG and BSV

Chinese authorities are seeking to confiscate approximately $5 billion worth of Bitcoin (BTC), alongside millions of XRP and Dogecoin (DOGE) tokens, in connection with one of the largest cryptocurrency fraud cases in history. According to an October 14 report by Chinese media outlet The Paper, the Tianjin No. 2 Intermediate People's Court has accepted a confiscation application involving crypto assets seized from convicted money launderer Qian Zhimin. The court announced on October 13 that it had formally accepted the application on September 28.

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