Authorities in Guernsey seize $11.4 million in assets linked to the OneCoin scam

PANews, January 21—According to Decrypt, authorities in Guernsey, a British Crown dependency, have approved the confiscation of $11.4 million (9 million pounds) in assets related to the OneCoin fraud case under its Proceeds of Crime Law, at the request of authorities in Bielefeld, Germany. The funds were held in an account at RBS International Bank in Guernsey. This confiscated amount represents only about 0.2% of the total losses from OneCoin, highlighting the ongoing difficulty of fully recovering assets in cryptocurrency fraud cases.