Svmuu News: Victims of a Chinese investment fraud case are challenging a compensation arrangement involving approximately 61,000 Bitcoin in a British court. The victims’ representatives have filed an application with the High Court of Justice seeking to overturn the proposal to provide compensation through a Chinese compensation mechanism, arguing that the plan could allow British authorities to retain a significant portion of the capital gains.This batch of Bitcoin was seized by UK police during a money laundering investigation in London and is currently valued at approximately £3.2 billion (about $4.3 billion). It is reported that the law firm Candey, representing approximately 5,700 victims, has raised objections, arguing that the current compensation plan fails to guarantee fair restitution.The fraud scheme, led by Qian Zhimin, involved more than 128,000 Chinese investors, with the proceeds converted into Bitcoin and transferred overseas between 2014 and 2017.UK prosecutors have stated that some claims could result in a small number of victims and litigation funders receiving compensation exceeding their actual losses. (FT)