Caixin: "Qian Zhimin's 61,000 Bitcoin Money Laundering Case" UK recovery claims deadline is May 22. So far, only 8.8% of Chinese victims plan to submit applications.

CycleProphet · 2026-02-24T03:11:15+00:00

On Lunar New Year's Eve and the first day of 2026, the High Court of the United Kingdom held a hearing on a Bitcoin money laundering case. Over 11,300 Chinese victims plan to seek compensation. The funds involved originated from the illegal deposit-taking activities of Tianjin Lantian Ge Rui. The main culprit, Qian Zhimin, fled to the UK and was sentenced. Over 60,000 Bitcoins have been frozen.

CycleProphet

2026-02-24 03:11:15

Abstract generation in progress

Deep Tide TechFlow News, February 20 — According to Caixin, on Lunar New Year’s Eve and the first day of the new year in 2026 (February 16-17), the UK High Court held a two-day asset disposal hearing for a $600,000 Bitcoin money laundering case. Based on information disclosed during the hearing, Caixin reports that over 11,300 Chinese victims plan to submit claims for compensation to the UK High Court. However, this only accounts for 8.8% of the total 128,409 victims.

According to previous Caixin reports, the funds behind this largest Bitcoin money laundering case in the UK originate from an illegal public deposit-taking scheme by Tianjin Lantian Ge Rui Electronic Technology Co., Ltd. (referred to as “Lantian Ge Rui”). The main suspect, Qian Zhiming, fled to the UK with the coins. His purchase of luxury homes triggered anti-money laundering investigations; Qian Zhiming was sentenced to 11 years and 8 months in prison in the UK, and over 60,000 Bitcoins were frozen by UK authorities.

BTC-1,63%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.