Guernsey Authorities Approve Seizure of $11.4 Million Linked to OneCoin Scam

Odaily News: Authorities in Guernsey, a British Crown Dependency, have approved the confiscation of $11.4 million (9 million pounds) in assets linked to the OneCoin fraud case. The approval was granted under Guernsey's Proceeds of Crime Act in response to a request from authorities in Bielefeld, Germany. The funds were held in an account at RBS International Bank in Guernsey. This seized amount represents only about 0.2% of the total losses from OneCoin, highlighting the continued difficulty in fully recovering assets in cryptocurrency fraud cases. (Decrypt)