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Caixin: A hearing will be held on February 16th for the case involving 60,000 Bitcoins laundering, with the amount involved exceeding 30 billion yuan and affecting nearly 130,000 Chinese victims.

bitcoin news Geopolitics Enforcement Actions

2026-02-12 05:36:25

BTC-2.02%

Odaily Planet Daily reports that 8,300 Chinese victims have filed claims for 60,000 Bitcoins. The asset disposal process for the Qi Zhi Min money laundering case has reached an impasse, with multiple law firms acting independently and fighting their own battles. The UK judge sees issues such as duplicate submissions, repeated debates, and prolonged procedures, while legal fees are also rising, ultimately to be paid by Chinese victims. It is reported that on the lunar calendar's Bing Wu Year’s New Year's Eve and the first day of the Lunar New Year (February 16 and 17, 2026), the High Court of the United Kingdom will hold a hearing involving over 30 billion RMB and nearly 130,000 Chinese victims. This hearing concerns the asset disposal process of the highly publicized case involving 60,000 Bitcoins for money laundering. Additionally, Bitcoin prices are highly volatile; the market value of 60,000 Bitcoins, which peaked at approximately 54 billion RMB on October 6, 2025, has shrunk to about 31 billion RMB in early February 2026. (Caixin)

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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