A London High Court ruled that Chinese law, not English law, will govern claims to the 61,000 Bitcoin seized by UK authorities, a setback for Chinese fraud victims. The assets stem from an investment fraud scheme orchestrated by Zhimin Qian between 2014 and 2017, which reportedly affected more than 128,000 investors. The ruling does not decide who owns the Bitcoin, as victims' property rights under Chinese law still need to be assessed, and the case remains in London rather than moving to a Chinese court. Fieldfisher, representing the claimants, is appealing the decision, and the seized Bitcoin is worth more than $5 billion according to CoinGecko.
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Read the original on Cointelegraph ↗
Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.7T |
| Close on 10/12/2026 | 81,850.00 |
| Change that session | -2.30% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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