TechFlow news: According to Caixin, on February 12, 8,300 Chinese victims filed claims totaling 60,000 bitcoins in the Qian Zhimin money laundering case; however, the asset disposition process has reached an impasse. Multiple law firms are representing claimants independently, leading—according to British judges—to issues such as duplicate submissions, repetitive arguments, and prolonged proceedings. Meanwhile, legal fees have surged, ultimately to be borne by the Chinese victims. Notably, the UK High Court will hold a hearing on the eve of the Chinese Lunar New Year (February 16, 2026) and the first day of the Lunar New Year (February 17, 2026)—the Year of the Horse (Bingwu)—regarding asset disposition in this high-profile 60,000-bitcoin money laundering case. The case involves over RMB 30 billion in disputed assets and affects nearly 130,000 Chinese victims. Additionally, due to significant bitcoin price volatility, the market value of the 60,000 bitcoins has declined from a peak of approximately RMB 54 billion on October 6, 2025, to roughly RMB 31 billion in early February 2026.
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