Fraud Victims Hit Legal Wall in Britain’s $5B Bitcoin Battle
Oct 13 2026 15:55 UTC - Jamie Redman
A U.K. court rules Chinese law governs claims to 61,000 seized bitcoin worth $5 billion, complicating victims' recovery efforts.
➤ A UK High Court ruling has determined that Chinese law will govern claims to over 61,000 seized bitcoins, currently valued at $5 billion.
➤ This decision complicates recovery efforts for Chinese fraud victims of Zhimin Qian's Ponzi scheme, as English legal principles for ownership may not apply.
➤ While the ruling favors UK prosecutors in the legal process, the ultimate ownership of the seized bitcoin remains undecided and will be subject to further proceedings under Chinese law.
Read more at: https://rwatimes.io/articles/news.bitcoin-fraud-victims-hit-legal-wall-in-britains-5-b-bitcoin-battle-206723606?utm_source=binance
Oct 13 2026 15:55 UTC - Jamie Redman
A U.K. court rules Chinese law governs claims to 61,000 seized bitcoin worth $5 billion, complicating victims' recovery efforts.
➤ A UK High Court ruling has determined that Chinese law will govern claims to over 61,000 seized bitcoins, currently valued at $5 billion.
➤ This decision complicates recovery efforts for Chinese fraud victims of Zhimin Qian's Ponzi scheme, as English legal principles for ownership may not apply.
➤ While the ruling favors UK prosecutors in the legal process, the ultimate ownership of the seized bitcoin remains undecided and will be subject to further proceedings under Chinese law.
Read more at: https://rwatimes.io/articles/news.bitcoin-fraud-victims-hit-legal-wall-in-britains-5-b-bitcoin-battle-206723606?utm_source=binance