Chinese court seeks forfeiture of $5.1 billion bitcoin seized from Qian Zhimin in UK

A court in Tianjin has launched proceedings to confiscate 61,896 bitcoin worth approximately $5.1 billion, originally seized by British authorities from convicted fraudster Qian Zhimin. This action opens a new legal front over the fate of coins currently frozen in the United Kingdom. On September 28, the Tianjin No. 2 Intermediate People’s Court accepted an application from the Tianjin People’s Procuratorate Second Branch to forfeit Qian’s illicit gains. According to a notice published on October 13, this includes around 61,896 bitcoin, valued at about $82,200 each, based on CoinGecko data. The property potentially subject to forfeiture extends beyond bitcoin. Prosecutors are also seeking to recover 72,700 bitcoin cash, roughly 3.6 million XRP, bitcoin SV, bitcoin gold, and proceeds from the sale of about 70 million dogecoin already liquidated by UK…

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