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Woman Pleads Guilty to $7 Billion Bitcoin Fraud Scheme in UK

Zhimin Qian, a Chinese national, pleaded guilty in a UK court to acquiring and possessing criminal property valued at nearly $7 billion, stemming from a large-scale fraudulent investment scheme. Over a seven-year investigation, authorities uncovered that Qian had defrauded 128,000 individuals in China, converting illicit funds into Bitcoin. The UK government seized around 61,000 Bitcoins, now valued at approximately $7 billion, marking it as the world’s largest crypto seizure. Qian fled China in 2018 and later attempted to launder the money through property purchases. Her associate, Jian Wen, was also involved and sentenced to over six years in prison, ordered to pay more than $3 million for her role. Civil proceedings for the recovered funds are ongoing, with challenges expected for the affected Chinese investors in claiming legitimate ownership of the assets. This case represents one of the largest money laundering incidents in UK history and highlights the use of cryptocurrencies in criminal activities, according to law enforcement officials.

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SOL traders smash buy ahead of SEC Solana ETF decision: Is $250 back on the table?

SOL traders viewed the recent dip to $190 as an opportunity to buy ahead of the SEC's impending decision on Solana ETFs, expected by October 10. Following this drop, SOL's price surged to $213, marking a nearly 12% increase over three days. Retail traders actively accumulated

Here’s what happened in crypto today

Today in crypto news, Kazakhstan launched its first state-backed crypto reserve in partnership with Binance, marking a significant step into digital assets. The Alem Crypto Fund, initiated by the Ministry of Artificial Intelligence and Digital Development, has BNB as its initial investment. Meanwhile, Polish lawmakers advanced a restrictive Crypto-Asset Market

Kazakhstan Launches State-backed Crypto Fund; Poland Moves to Regulate Digital Assets

Kazakhstan, in partnership with Binance, has launched its first state-backed crypto fund, the Alem Crypto Fund, marking a significant step in the country's embrace of digital assets. The fund's initial asset is BNB, Binance's utility token, although details about the amount purchased remain undisclosed.

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