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Chinese Victims Seek Share of $4 Billion Bitcoin Seized in U.K. Case

Published: Feb. 24, 2026 5:08 p.m. GMT+8

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More than 11,300 Chinese victims are seeking to recover a share of more than 60,000 bitcoins — currently worth about $4 billion — seized by British authorities, as a U.K. court weighs the fate of the assets in one of the country’s largest money laundering cases involving Bitcoin.

The cryptocurrency was frozen in the U.K. after funds from China’s Tianjin Lantian Gerui Electronic Technology Co. Ltd. were converted into Bitcoin. The company was found to have run an illegal fundraising scheme involving more than 128,000 victims.

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Over 11,300 Chinese victims seek recovery of more than 60,000 bitcoins (worth about $4 billion) seized by UK authorities in a major money laundering case.
Victims must register by May 22, 2026, with further evidence due June 18; a hearing in July will decide if UK or Chinese law applies.
The seized bitcoins' value has dropped from over $7 billion in October 2024 to about $4 billion.

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Tianjin Lantian Gerui Electronic Technology Co. Ltd.: Tianjin Lantian Gerui Electronic Technology Co. Ltd. was a Chinese company that operated an illegal fundraising scheme. This scheme defrauded over 128,000 victims, raising approximately 40 billion yuan. Funds from this company were converted into Bitcoin, which was subsequently seized by British authorities in a major money laundering case.

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