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U.K. Court to Hear $4.3 Billion Bitcoin Disposal Linked to China Investment Fraud

Published: Feb. 12, 2026 5:37 p.m. GMT+8

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(London) — A U.K. court is set to hear arguments next week over how to dispose of roughly 60,000 bitcoins seized in connection with a Chinese investment fraud, in one of the largest cryptocurrency recovery cases to enter civil proceedings in Britain.

The High Court hearing on Feb. 16 and 17 will focus on the handling of the cryptocurrency, currently valued at about 30 billion yuan ($4.3 billion), down from a peak of about 54 billion yuan in October.

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A UK court will decide how to handle 60,000 seized bitcoins (worth $4.3 billion) linked to Chinese fraud, with a hearing on Feb. 16-17.
The assets are tied to Qian Zhimin, sentenced for Britain's largest bitcoin money-laundering case involving 130,000 investors.
Around 8,300 Chinese victims have filed compensation claims; the court may streamline proceedings to reduce legal costs and improve distribution efficiency.

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Who’s Who

Tianjin Lantian Gerui Electronic Technology Co. Ltd.: Tianjin Lantian Gerui Electronic Technology Co. Ltd. is a Chinese company whose boss, Qian Zhimin, marketed high-yield investment products between 2014 and 2017. These actions led to the raising of over 40 billion yuan from the public, affecting nearly 130,000 investors in a large-scale investment fraud. Some of these funds were converted into Bitcoin.

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What Happened When

Between 2014 and 2017：: Qian Zhimin marketed high-yield investment products under Tianjin Lantian Gerui Electronic Technology Co. Ltd., raising more than 40 billion yuan from the public and affecting nearly 130,000 investors.

After 2017：: Qian Zhimin fled to the U.K. and converted some of the proceeds into Bitcoin.

By January 2026：: A procedural hearing was held at the High Court regarding the civil recovery proceedings and compensation claims; the presiding judge addressed the issue of parallel filings.

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