UK government found to have billions of dollars Bitcoin: Arkham

The UK government was founded by the blockchain analytics platform that held billions of dollars in Bitcoin in the past few years. Arkham Intelligence, on the on-chain analytics data on Dec. 06, has found the wallet that is connected to the UK government that holds 61.245k Bitcoin ( BTC ) worth $6 billion. This wallet has also gained profit from the Bitcoin price movement, with more than $28 million in unrealised profit. It is stated by Arkham that the Bitcoin owned by the UK government is a seized asset from Zhimin Qian, a fraudster with a multi-billion pound scam. “The UK government now holds $6 billion USD of Bitcoin. They have been holding this for 3.5 Years after its seizure from Zhimin Qian in 2021,” Arkham stated on X post Although the last time this wallet was actively used was 3 months ago, the seized Bitcoin that they received only happened 3 years ago. The first time, they received 2,400 Bitcoins worth $93 million, and they got the same amount at a different transaction. In the last one, they received 19.200 Bitcoin worth $750 million. Dashboard dedicated to UK government digital asset | Source: Arkham Intelligence Read more: Bitcoin crime: Chinese woman pleads not guilty to UK laundering charges UK government accused Zhimin Qian Zhimin Qian, a Chinese nationality, defrauded 130,000 Chinese investors of $5.6 billion between 2014 and 2017. She was enlisted by Jian Wen, who had already been sentenced to 6 years in prison due to the money laundering plot. Qian will face the trial in September next year at Southwark Crown Court, where a co-defendant, Seng Hok Ling, has also pleaded not guilty to related charges. Read more: British citizen found guilty in $6b Bitcoin fraud scheme

Source: crypto.news