China Seeks Confiscation of 61,800 Bitcoin in UK Fraud Case

Chinese prosecutors are seeking the confiscation of more than 61,800 Bitcoin (BTC) seized in the United Kingdom, putting a substantial crypto holding at the center of an effort tied to a $5.7 billion investment fraud.

The move covers Bitcoin and other assets connected to a case valued at $5.7 billion. Those figures describe separate measures: the coin count is the amount of Bitcoin sought, while the dollar figure is the stated size of the fraud. It is not a valuation of the Bitcoin itself.

The case involves Qian Zhimin, who is serving a prison sentence in the UK. Chinese prosecutors link the assets to the investment fraud involving Qian. The confiscation remains a request, not a completed transfer. The request puts cross-border asset recovery at issue, with the Bitcoin seized in Britain and the confiscation effort led by Chinese prosecutors. The case is an asset recovery dispute that spans borders and includes cryptocurrency as well as other assets.