New suspicions are emerging in the investigation into Chinese suspect Qian Zhimin, carried out both in the UK and China. While Chinese reports indicate that Qian acquired a total of 194,951 Bitcoins over the years, British authorities seized only 61,000. This bolsters claims that more than 120,000 Bitcoins are still missing. Detective Joe Lane of London's Metropolitan Police said Qian allegedly “lost” the password to a wallet containing 20,000 BTC. The current value of these assets is approximately $1.75 billion. Qian is accused of funneling proceeds from an illegal fundraising operation in China called Lantian Gree into cryptocurrencies. Sentenced to 11 years and 8 months in prison at a November trial in the UK, Qian's sentencing process is now complete, and the focus is now on the return of the assets. UK courts determined that the 61,000 seized Bitcoins were linked to funds obtained from fraudulent activities in China. However, a hearing to return the Bitcoins to China has been postponed until January 2026. Due to the rise in Bitcoin prices, the market value of the assets in question has approached approximately $7 billion at times. International legal experts say the case is no longer just a money laundering case, but a test case for digital asset ownership and cross-border jurisdiction. Related News: Major Altcoin Whales Are Very Active: Here Are Their Transactions and Purchases According to victim testimonies reported in international media, the Lantian Gree investment program has left thousands of people saddled with heavy debt. Some say they haven't received their salaries for years, their families have been disrupted, and they still struggle with massive debts. Judge Sally-Ann Hales, in her ruling in the UK, said the victims had suffered serious harm not only financially but also socially and psychologically. According to court records in the UK, Qian: Since 2014, investors have opened accounts on exchanges such as Huobi and converted their money into BTC, When he came to the UK in 2017, he had around 70,000 BTC with him, During the 2018 raid, police found traces of an additional transfer of 18,800 BTC, As a result, a total of 61,000 BTC were confiscated. However, audits in China revealed that Qian had actually purchased 194,951 BTC. Therefore, the whereabouts of the more than 120,000 Bitcoins remain a major question mark. Experts say Qian's guilty plea in the UK demonstrates the effectiveness of evidence from China, with both countries working together to trace the funds and compensate the victims. According to information received from Chinese authorities, two partial payments were made to victims in the past: the first 5% and the second 8%. However, these rates are reportedly insufficient to cover the losses. *This is not investment advice. Continue Reading: Multi-Billion Dollar Bitcoin Trouble Stirring Up China – Here’s What We Know
