UK Moves Closer to Keeping $5B Bitcoin Haul After High Court Ruling

The UK government's chances of keeping a 61,000 BTC haul seized from convicted fraudster Zhimin Qian have improved after the High Court in London ruled on Monday that Chinese law should govern victims' claims to the coins. The Bitcoin is worth about $5 billion at its current price of around $83,200, per CoinGecko data . Qian was jailed for more than 11 years last year after pleading guilty to fraud and money laundering charges over a Ponzi scheme that defrauded investors in China between 2014 and 2017.

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