China seeks 61,800+ Bitcoin held in UK fraud case

Chinese prosecutors are seeking confiscation of more than 61,800 Bitcoin and other assets linked to the Qian Zhimin fraud case and held by UK authorities. Jiemian’s account of a Tianjin court notice says the court accepted the application on 28 September 2026 and published its notice on 13 October.

The application is another stage in a cross-border recovery case involving funds from an investment fraud in China. The assets’ custody, the Chinese application and victims’ legal claims sit within separate proceedings.

The application includes Bitcoin and other property

Tianjin prosecutors seek recovery of alleged criminal proceeds, converted property and associated returns, with lawful restitution to harmed investors taken into account. Jiemian reports that the application covers more than 61,800 BTC, additional cryptocurrencies, cash and jewellery seized in the UK.

The application relies on China’s procedure for confiscating unlawful gains in qualifying cases involving suspects who have fled or died. The reported notice identifies Tianjin’s Second Intermediate People’s Court as the court handling the application. Acceptance puts the request into a court process for consideration.

The English judgment addresses victims’ ownership claims

The High Court ruled on 12 October that Chinese law governs the relevant proprietary claims by people alleging losses from the fraud. The judgment in DPP v Zhimin Qian addresses which country’s law applies to those claims.

The court’s account places the fraud, the investors and the conversion of funds into Bitcoin in China. It considers how those connections determine the law used to assess claimed property rights. The substantive assessment of individual claims follows that choice-of-law question.

The case follows Qian’s UK prison sentence

Qian was sentenced to 11 years and eight months in prison on 11 November 2025 after pleading guilty to money-laundering offences. The Crown Prosecution Service’s sentencing account describes efforts to use cryptocurrency proceeds to acquire expensive property and jewellery.

The CPS said it would pursue criminal confiscation and civil proceedings to put the assets beyond the offenders’ reach. YFarmX’s earlier sentencing coverage provides the background to that prosecution.

The current recovery questions concern legal entitlement to the assets and how claims are assessed across the two jurisdictions. A confiscation application, custody of Bitcoin and a decision on a victim’s property rights each represent a distinct step.