Malaysia keeps 322 Bitcoin from the Bitkingdom scam after court ruling

A Kuala Lumpur court returned part of the seized coins to nine victims and left the government holding the rest Malaysia’s government is about to become a meaningful Bitcoin holder, and it didn’t have to buy a single coin to get there. The Kuala Lumpur High Court has ruled that the state will retain approximately 321.64 Bitcoin seized in connection with the Bitkingdom investment scam. At current prices, that stash is valued at about $26.2 million. The coins trace back to a scheme that ran between 2015 and 2016. Authorities seized a total of 497.82 BTC tied to Bitkingdom. The court then had to decide who gets what. Nine victims came forward in the proceedings. Collectively, they had deposited 362.04 Bitcoin into the scheme.

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