Woman convicted after Met Police make 'world's largest' cryptocurrency seizure worth £5.5bn

Transcript

00:00The Metropolitan Police have made what is believed to be the world's largest seizure

00:04of cryptocurrency, worth £5.5 billion.

00:0745-year-old Ximin Xin has been convicted for her role in a multi-billion bitcoin fraud.

00:13The Met's economic crime team spent seven years looking into the international money-laundering scheme.

00:18The Chinese National pleaded guilty to acquiring and possessing criminal property at Southwark

00:23Crown Court on Monday.

00:24Chinese seized 61,000 bitcoins from Xin, thought to be worth £5.5 billion, which they believe

00:31to have been the biggest ever such seizure of cryptocurrency.

00:34Chancellor Rachel Reeves is reportedly eyeing up the seized £5 billion as the government

00:39considers selling off the cryptocurrency to plug a hole in the public finances.

00:43Xin defrauded more than 128,000 victims in an elaborate large-scale fraud in China between

00:492014 and 2017, and she used bitcoin assets to store the money she acquired.

00:55The 45-year-old later fled China using false documents and came to the UK.

00:59The Met's head of economic and cybercrime command, Will Line, said he is incredibly proud

01:04of the police team that brought Xin to justice.