Chinese fraud victims ask UK High Court to scrap 61,000 Bitcoin redress scheme

Chinese investors defrauded in the Zhimin Qian scheme are urging the UK High Court to overturn a proposed redress plan for more than 61,000 seized Bitcoin, arguing it could strip them of gains in the crypto's value. The holdings, seized in a London money-laundering probe linked to Qian and associate Jian Wen, are now valued at about 3.2 billion pounds, while a July hearing will decide whether English or Chinese law governs recovery claims.