Qian Zhimin case stirs up waves again: 61,000 bitcoins recovery war
With Qian Zhimin, who fled to the UK, finally caught by the law, the victimized investors have ushered in a ray of hope under the shadow of the illegal fund-raising case of Tianjin Blue Sky Grey Electronic Technology Co., Ltd. Legal experts pointed out that although the foundation of criminal judicial assistance has been laid between China and the UK, there is still a blank in the specific details of cross-border asset recovery and sharing. The depth of the international recovery of stolen assets has yet to be explored, and the two countries need to work together to seek a good strategy.
On July 25, the British court made a final decision and approved the delivery of a liquidation order to Qian Zhimin himself, marking the official start of the civil judicial process in this cross-border recovery drama. However, the road ahead is not smooth, and the case is complicated. The British court has announced that it will invest more time and energy to unravel the case through multiple trials and strive to make the case clear. During this period, an unignorable variable is the ever-changing Bitcoin market. Its value fluctuations and realization strategies are full of unknowns, adding some uncertainty to the recovery work.
What is particularly noteworthy is that the British police previously seized 61,000 bitcoins in a bitcoin money laundering investigation. These digital assets are said to be very likely derived from the reinvestment of Qian Zhimin's criminal proceeds. This discovery undoubtedly provides new clues and hope for the victims' road to recovery, but it also indicates that a cross-border recovery battle around huge amounts of bitcoins will soon be fiercely staged on the legal stage.
