Chinese prosecutors are seeking to confiscate more than 61,800 bitcoin and other assets tied to an alleged $5.7 billion fraud that affected more than 102,000 investors. They say Qian Zhimin's company sold unlicensed wealth-management products, used investor money to repay earlier participants and fund fake projects, and left victims with nearly 20 billion yuan in losses. Qian fled China in 2017 and settled in Britain, where authorities seized his assets, including the bitcoin. A Tianjin court has accepted the request and opened a six-month window for interested parties to join the case, while a UK High Court ruled that Chinese law should govern victims' claims to the bitcoin seized in Britain.
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BTC/USDT
▼ Likely negativeBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/21/2026 | 84,093.42 |
| Change that session | +1.28% |
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