The British government seized 61,000 BTC, worth approximately $5 billion, as part of a massive Ponzi scheme operated in China between 2014 and 2017 by Chinese national Zhimin Qian. These funds, confiscated by the Metropolitan Police of London in late 2018, involve over 128,000 Chinese investors seeking reimbursement. A recent High Court ruling in London ordered the application of Chinese law rather than English law to determine ownership of these assets, which is unfavorable to the victims. This decision could facilitate the British authorities keeping these bitcoins, as former UK Chancellor Rachel Reeves had already considered selling them in 2025. Law firm Fieldfisher, representing the investors, announced plans to appeal the ruling.
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