As reported by Odaily, the case involving Qian Zhimin, the mastermind behind the 402 billion yuan China Sky Blue Sharp illegal fundraising scheme, has entered a new phase. On November 11, 2025, Qian was sentenced to 11 years and 8 months in the UK for his role in what is considered the largest Bitcoin money laundering case in British history. British authorities have seized 61,000 Bitcoin, valued at over 5 billion pounds, believed to be proceeds from Qian's crimes in China. A hearing to determine the disposition of the seized Bitcoin was postponed to January 2026. Legal experts and officials are now focused on the complex legal and diplomatic process of repatriating the assets to China for victim compensation. The case has sparked debate over whether victims can claim the full value, including Bitcoin's significant price appreciation over the years.
China's 400 Billion Yuan Bitcoin Case: Can Funds Be Recovered?
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