The Great Bitcoin Windfall: UK’s $7B Crypto Cache Traced to Chinese Scam

Description

The UK government plans to sell at least 61,000 BTC. The Home Office has announced a tender for the storage and sale of confiscated cryptocurrencies; the contract is valued at $53.7 million. The proceeds from the sale are expected to be transferred to the Treasury. UK authorities plan to sell at least 61,000 BTC (about $7 billion at the time of the announcement). The assets were confiscated after the uncovering of a financial pyramid scheme linked to a Chinese citizen, according to The Telegraph...