The United Kingdom has initiated the process for the Bitcoin return to Chinese investors who were defrauded in a $6.8 billion scheme. According to judicial sources, over 128,000 victims await the restitution of funds seized in 2018, setting a global precedent in crypto asset recovery. This move marks a milestone in cross-border financial justice.
The case dates back to a scam operated between 2014 and 2017 by Qian Zhimin through the company Tianjin Lantian Gerui Electronic Technology. British police seized 61,000 BTC in 2018, the largest cryptocurrency confiscation in the country’s history. The legal process is based on the Proceeds of Crime Act (POCA) of 2002. However, lawyer Jack Ding, who represents thousands of victims, warns that many claimants present insufficient proof of investment. The judicial timeline is set, with a civil lawsuit filed in September 2024 and a criminal sentence against Zhimin expected in November 2025.
This news is highly relevant because it establishes an unprecedented framework for action. It addresses how one country manages the restitution of digital assets to victims in another jurisdiction, in this case, China. Cooperation between the two nations is crucial, though slowed by regulatory differences. The outcome will define the future of international financial justice in the digital economy era, showing if legal systems can adapt to cross-border crimes involving cryptocurrencies.
How Will $6.8 Billion Be Returned Without Crashing the Market?
The process faces three monumental challenges: valuation, sale, and verification. The courts must decide whether payments will be based on Bitcoin’s current value or the original investment amount. Furthermore, liquidating 61,000 BTC could create massive selling pressure on the market, affecting its price. The strategy for selling the assets without causing a collapse is crucial. Finally, verifying the authenticity of each of the 128,000 claims with incomplete documentation is a huge logistical and legal challenge that requires careful planning.
The path to full restitution is laid out but is fraught with technical and diplomatic obstacles. All eyes are now on the High Court’s decision in January 2026, when it will define the rules and schedule for the distribution. This verdict will not only seek justice for thousands of victims but will also create a roadmap for future global crypto fraud cases. The case’s resolution is eagerly awaited by investors and regulators worldwide.
