Legal Dispute Emerges Over 61,000 Bitcoin Seized by UK Police
Chinese fraud victims are challenging a UK plan to use a Chinese redress scheme for 61,000 seized Bitcoin now worth billions.Summary
Victims of a Chinese investment fraud spanning 2014 to 2017 are challenging a proposed UK compensation plan involving approximately 61,000 Bitcoin seized by London police in 2018. The cryptocurrency haul is now valued at about £3.2 billion ($4.3 billion), and victims represented by the law firm Candey argue that the proposed Chinese redress scheme may not guarantee fair restitution. Prosecutors countered that some claims could allow a small subset of victims and litigation funders to recover more than their actual losses, potentially excluding other victims and the Crown. The dispute has moved to the UK High Court, where a preliminary hearing is set for July to determine whether English or Chinese law should govern the claims. The Bitcoin was seized during a raid on a London property linked to Jian Wen and Zhimin Qian, the scheme's mastermind, who was sentenced in November 2025.
(Source：Cointelegraph)