61,000 seized Bitcoin: UK court rules Chinese law governs victims' claims, report says
In brief
- UK High Court judge applied Chinese law to victims' claims in the Qian case, Crypto Briefing reports.
- About 61,000 Bitcoin, valued by the outlet at £3.8 billion to £5 billion, are in dispute.
- Preliminary ruling doesn't decide who ultimately owns the Bitcoin.
- Fieldfisher and other victims' representatives plan an appeal, expected to be heard in 2027.
What the ruling does (and doesn't) do
Crypto Briefing reported that Justice Mark Turner found the victims' property rights claims fell under Chinese law. That's a narrow point. It's a choice-of-law decision, and the outlet says it sets the legal framework for the next phase of civil recovery proceedings, which will include expert evidence on how Chinese law treats the claims.
The coins aren't going anywhere yet. According to the report, the Bitcoin remains under UK government control while those questions play out (the assets were seized under the Proceeds of Crime Act 2002, and the Crown Prosecution Service is working to secure them for the state).
An appeal is coming.
Crypto Briefing said the victims' representatives, including law firm Fieldfisher, plan to challenge the choice-of-law ruling, with that appeal expected to be heard in 2027.
Why the governing law matters
This is the part with real money attached. In Crypto Briefing's analysis, the ruling leaves victims less room to argue under English law for a share of the coins' appreciation since they were bought. A Chinese law framework could limit their claims to something closer to their original losses rather than the current value of the Bitcoin.
The outlet's reasoning goes a step further: if claims are capped near the roughly £600 million victims lost, the remaining billions could stay with the state. That's the publication's read, not a finding by the court. It also argued that a reversal on appeal would reopen the door to English law claims and could return a larger slice of the Bitcoin's value to defrauded investors.
Background on the Qian case
According to the report, the underlying scheme ran from 2014 to 2017 and deceived more than 128,000 people in China, who lost approximately £600 million in total. Qian's operation converted proceeds into Bitcoin through the Huobi exchange.
Qian was sentenced in November 2025 to 11 years and 8 months. Her accomplice, Seng Hok Ling, received 4 years and 11 months on money-laundering charges, Crypto Briefing reported.
Frequently asked questions
Does the UK court ruling decide who owns the seized Bitcoin?
No. According to Crypto Briefing, the ruling is a preliminary decision that doesn't settle who ultimately owns the roughly 61,000 Bitcoin. It sets the legal framework for the next phase of civil recovery proceedings, which will include expert evidence on how Chinese law treats the victims' claims.
Why does it matter whether Chinese or English law applies to the Qian victims' claims?
In Crypto Briefing's analysis, applying Chinese law could limit victims' claims to amounts closer to their original losses of about £600 million rather than the coins' current value. The outlet argued that, if claims are capped there, the remaining billions could stay with the state.
Will the victims appeal the choice-of-law ruling?
Crypto Briefing reported that the victims' representatives, including law firm Fieldfisher, plan to appeal, with the appeal expected to be heard in 2027. The outlet said a reversal would reopen the door to English law claims and could return a larger share of the Bitcoin's value to defrauded investors.
