Ringleader Who Laundered 61,000 Bitcoin (BTC) Sentenced to 11 Years and 8 Months in Prison
Summary
- A UK court said it sentenced the ringleader who laundered 61,000 Bitcoin (BTC) to 11 years and 8 months in prison.
- UK authorities seized 61,000 BTC in the case, saying it is the largest amount among crypto assets seized in the UK.
- The UK Treasury and judicial authorities said they are discussing whether to dispose of the seized Bitcoin.
A UK court has imposed a heavy sentence on the ringleader who laundered 61,000 Bitcoin (BTC).
On the 11th (local time), according to Decrypt, a media outlet specialized in crypto assets (cryptocurrencies), a UK court sentenced Chen Zhi, the ringleader of a large-scale Bitcoin money laundering case, to 11 years and 8 months in prison.
Chen Zhi was charged with laundering vast crypto assets obtained through illegal online activities. UK authorities seized 61,000 BTC (approximately $6.7 billion at current market value) in connection with the case, which is one of the largest amounts of crypto assets seized in the UK.
The UK Treasury and judicial authorities are reportedly discussing whether to dispose of the seized Bitcoin or retain it as evidence for further investigation.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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