Chinese Prosecutors Seek $5.1B Bitcoin Forfeiture from UK Seizure

Bitcoin forfeiture — Chinese prosecutors have applied to a Tianjin court to confiscate over $5.1 billion worth of Bitcoin seized by UK authorities in a case linked to fugitive businessman Zhang Yuhui, also known as Qian Zhimin.

The application, reported on October -22, 2026, will be heard by the Tianjin No. 2 Intermediate People’s Court after a mandatory six-month public notice period. The request is part of a parallel legal fight over the same massive Bitcoin haul, which is also being contested in the UK courts.

The UK’s National Crime Agency seized the 61,000 Bitcoin in 2021 during an investigation into money laundering. The assets are alleged to be linked to a £5 billion investment fraud scheme in China that prosecutors say was masterminded by Zhang, who fled to the UK in 2017.

This legal move represents a significant cross-border asset recovery effort by Chinese authorities and highlights the increasing focus of global law enforcement on cryptocurrency holdings linked to alleged crimes.