Chinese crypto fraud victims sue UK over seized BTC compensation

Victims of a Chinese cryptocurrency scam have filed a lawsuit against the UK government, challenging its plan for returning 61,000 BTC seized from the criminals, the Financial Times reported. The victims argue that the government's proposed compensation method is unfair because the value of BTC has surged since it was confiscated. Lawyers for the victims' group pointed out that UK authorities could potentially keep the massive profits from the price increase for themselves. The case will now proceed to the UK High Court. UK authorities previously seized the 61,000 BTC in 2018 during a search of the home of a Chinese national, Jian Wen, in connection with money laundering charges. The funds were linked to a crypto scam that occurred in China.