Chinese national Qian Zhimin has been sentenced to 11 years and 8 months in prison in London for orchestrating a Ponzi scheme that defrauded over 120,000 Chinese seniors. Qian used fraudulent health and crypto mining projects to scam victims, converting the proceeds into Bitcoin. In 2024, UK police seized 61,000 BTC, valued at approximately $6.3 billion, from his residence, marking a record high for crypto seizures in the UK. The ownership of the seized Bitcoin remains disputed, with China and the UK negotiating over its distribution. Some UK officials have suggested incorporating the assets into the national reserves.