Chinese investors defrauded in a massive Bitcoin Ponzi scheme are encountering legal challenges in their efforts to recover 61,000 BTC seized by UK authorities. The case centers on Qian Zhimin, who admitted to money laundering charges in London in September 2024. The seized Bitcoin, valued at over $7.4 billion, marks the largest crypto seizure in UK history.
A civil recovery case, initiated in September 2024, will address the distribution of these assets, with a court hearing scheduled for January 2026. Lawyers for the victims highlight the difficulties in tracing the funds and establishing direct connections to the seized Bitcoin as significant obstacles in the recovery process.
Chinese Investors Struggle to Reclaim 61,000 BTC Seized in UK Fraud Case
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.