UK High Court rules Chinese law governs claims to 61,000 seized Bitcoin
A London High Court judge ruled that Chinese law, not English law, will govern property‑claim disputes over 61,000 Bitcoin seized from fraudster Zhimin Qian. The decision, delivered by Mr Justice Mark Turner, does not determine ownership but narrows the victims’ recovery path. Victims plan to appeal the choice‑of‑law ruling. The seized coins are valued at roughly £3.8 billion to £5 billion.
Why it matters
The ruling increases the UK Treasury’s chances of retaining most of the seized Bitcoin, potentially keeping billions of dollars in state control. Victims’ ability to claim the current market value is limited, which may reduce any future payouts to defrauded investors.
Key facts
- 161,000 Bitcoin were seized by the Metropolitan Police in the Zhimin Qian fraud investigation. coindesk.com
- 2The seized Bitcoin are valued at about £3.8 billion to £5 billion (approximately $5 billion). coindesk.com
- 3The London High Court ruled that Chinese law must govern the victims’ property‑claim rights. tradingview.com
- 4Mr Justice Mark Turner delivered the judgment. coindesk.com
- 5The victims’ lawyers intend to appeal the choice‑of‑law decision. en.bloomingbit.io
- 6Victims lost roughly £600 million in the original fraud. tradingview.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.