UK Authorities Seize $1.7 Billion in Bitcoin from Former Restaurant Worker

According to Foresight News, UK authorities have confiscated $1.7 billion worth of Bitcoin from a former restaurant worker, Jian Wen, who attempted to purchase a luxury property in London worth approximately $30 million. The purchase was unsuccessful as Wen could not explain the origin of the cryptocurrency assets. Jian Wen, a Chinese citizen, became a UK citizen in 2018 and is suspected of being recruited to assist Zhimin Qian in money laundering. He is accused of converting Bitcoin into cash, luxury goods, and real estate on behalf of Qian. Wen is currently on trial at Southwark Crown Court for three counts of money laundering between October 2017 and January 2022. Meanwhile, Zhimin Qian has fled the UK.