In 2018, British law enforcement authorities confiscated bitcoins from two Chinese citizens. One of them, a certain Zhiming Qian, bought bitcoins with funds he received as a result of fraudulent investment transactions between 2014 and 2017.
Arkham Intelligence analysts emphasize that the UK authorities gained access to confiscated bitcoins in the summer of 2021. Now any market participants have the opportunity to view the balance and history of transfers of a cryptocurrency wallet.
The UK Government is now on Arkham.
The UK Metropolitan Police seized 61,000 Bitcoin (currently worth $4B) from Jian Wen and Zhimin Qian in 2018, gaining access to the seized BTC in July 2021.
Qian had reportedly purchased the Bitcoin with funds from an investment fraud… pic.twitter.com/BVqRAkE1TW
— Arkham (@ArkhamIntel) March 4, 2024
Earlier, Arkham Intelligence discovered that transactions worth $922 million were made from two addresses at once where bitcoins confiscated from hackers of the Bitfinex crypto exchange were stored.
Source: Bits
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