UK seeks to repay victims of huge bitcoin scam in China

Britain has proposed compensating victims of a massive scam in China that resulted in what is believed to be the world's largest cryptocurrency seizure, lawyers told AFP on Thursday. .

Earlier a hearing in London, authorities confirmed a "victim compensation scheme is under active consideration," said Jackson Ng, a lawyer at Duan & Duan, which represents several victims.

He also Said, In-depth discussions with representatives of the victims on what such a scheme might look like are expected to continue in the coming months.

According to London's Met Police, more than 128,000 victims were defrauded through a scheme in China between 2014-2017. At the centre of the scheme, Chinese business woman stored the illegally obtained funds in bitcoin assets before fleeing China with fake documents.