A UK High Court judge has ruled that Chinese law, not English law, must govern the claims of victims seeking to recover more than 61,000 BTC seized from a multibillion-pound fraud. The fraud was orchestrated by Zhimin Qian in China from 2014 to July 2017 through roughly ten schemes via Tianjin Lantian Gerui Electronic Technology, collecting approximately 40.23 billion yuan, nearly £4.1 billion. More than 100,000 BTC were purchased through a Huobi trading account before Qian fled China and was apprehended in London. The Metropolitan Police seized over 61,000 BTC, but the court has not yet determined whether victims can establish proprietary rights or how much they may recover.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
