The UK High Court has ruled that the rights of Chinese victims over the 61,000 bitcoins seized in the Zhimin Qian case will be examined under Chinese law rather than English law. This decision improves the UK’s chances of retaining part of this fortune estimated at 3.8 billion pounds sterling. Some 16,000 victims have joined the British proceedings to claim rights over these cryptocurrencies seized during searches in London in 2018. Zhimin Qian, sentenced to eleven years and eight months in prison for money laundering, must be definitively resolved, the allocation of assets remaining uncertain. The outcome could limit victims to their initial investment and interest, without benefiting from the spectacular rise in bitcoin.
Source: Read the original article
