China Moves to Seize 61,800 Bitcoin in $5.7B Fraud Case | CoinDesk Daily

Chinese prosecutors are moving to seize more than 61,800 Bitcoin connected to an unlicensed wealth-management scheme valued at over 40 billion yuan, or roughly $5.7 billion. The scheme collected money from more than 102,000 investors between 2014 and 2017.

Prosecutors say funds from the scheme were put into Bitcoin, property, cars and jewelry rather than real businesses. The seizure effort centers on the Bitcoin traced to the fraud case; the synopsis does not specify how much of the other assets authorities are seeking to recover.

At a cybercrime event, the Trump administration highlighted agency actions targeting overseas criminal operations that use cryptocurrency. Agencies have halted about $833 million in crypto tied to scams and seized 503 fraudulent crypto websites. Much of the activity traces to pigbuttering scam centers in Burma, Cambodia and Laos.

Bitcoin ETFs attracted more than $1 billion in inflows this week, signaling renewed institutional demand, but analysts say the pace remains below levels associated with Bitcoin’s steep rallies since 2024. During those three rallies, daily ETF inflows averaged more than $200 million; since July, the average has been closer to $86 million.

No day since July has recorded ETF inflows above $1 billion. Analysts say that, if history is a guide, a sustained rise in Bitcoin would require ETF inflows to remain strong, so this week’s total alone does not establish that the stronger pace is in place.