A UK High Court judge ruled that Chinese law applies to property claims in the Zhimin Qian Bitcoin fraud case, involving about 61,000 Bitcoin worth £3.8-5 billion. This decision limits victims' ability to claim gains under English law, potentially allowing the UK government to retain most of the seized Bitcoin. The ruling is preliminary and subject to appeal, with further legal proceedings to clarify Chinese law's treatment of the claims. The outcome impacts victims who lost £600 million in the fraud and the UK Treasury's potential recovery of billions in Bitcoin value.
The UK court ruling on seized Bitcoin worth billions provides context for cryptocurrency market activity. For readers following crypto markets, here is Pluang's snapshot as of Oct 13, 2026 16:31 WIB: out of 50 major cryptocurrencies, 7 rose and 42 fell. Notable moves include EOS up 8.13% at Rp12.649, VET down 7.43% at Rp131 with a 48% sell order activity, and AXS down 7.41% at Rp20.719 with a 98% buy order activity.
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