UK Court Ruling Improves Government’s Prospects for Keeping 61,000 Bitcoin

A U.K. High Court ruling has improved the government’s prospects of retaining more than 61,000 Bitcoin (BTC) seized in a Chinese fraud investigation, while leaving final ownership undecided.

Justice Mark Turner ruled Oct. 12 that Chinese law governs the property claims brought by victims. The fraud, payments and Bitcoin purchases took place in China, narrowing the legal route for victims seeking to recover the assets in Britain.

“The applicable law is Chinese law,” Turner said.

The seized Bitcoin has been valued at about $5 billion. The court’s decision addresses only which country’s law applies to the claims; it does not determine whether the British government, the victims or another party ultimately owns the cryptocurrency.

The case involves at least 128,409 investment contracts linked to fraud that generated approximately 40.23 billion yuan between 2014 and 2017. The Metropolitan Police seized devices and access keys in London on Oct. 31 and Nov. 1, 2018.

Zhimin Qian pleaded guilty in November 2025 and was sentenced to 11 years and eight months. The 61,000 BTC remains subject to civil recovery proceedings in the High Court, with further assessments of Chinese law and victims’ individual rights still ahead.