Chinese prosecutors seek confiscation of 61,896 BTC seized in UK Qian case
Prosecutors in Tianjin applied to confiscate 61,896 BTC seized from Zhimin Qian in the UK, and the Tianjin No. 2 Intermediate People's Court accepted the application, The Paper reported, according to Decrypt and CoinDesk. Decrypt put the coins' value at about $5.1 billion at a price near $82,000. The court opened a six-month notice period; a parallel dispute continues in London.
2 independent publishers report it (copies of the same text count once); they may still rely on one underlying source. An official source would raise it.
core coin BTC · 2 publishers
No time pressure
Three separate rule-based signals. None is the probability that the report is true. How they work →
Key facts
Attributed sources: CoinDesk Decrypt
BTC after this site detected it
- 5 minutes-0.02%Gate · USDT
- 1 hour-0.41%Gate · USDT
- 24 hours—Window not complete
Claims and open questions
What sources claim
- Prosecutors in Tianjin are seeking to confiscate 61,896 BTC seized from Zhimin Qian in the UK, along with about 72,746 units each of Bitcoin Cash, Bitcoin Gold and Bitcoin SV, roughly 3.6 million XRP and some 70 million Dogecoin, Decrypt reported, citing a court notice first reported by The Paper.
- Prosecutors said Qian's scheme raised more than 40.38 billion yuan and left more than 102,000 investors with losses of about 19.98 billion yuan, according to Decrypt.
- CoinDesk reported that the Tianjin No. 2 Intermediate People's Court accepted the confiscation request on October 13 and opened a six-month period for victims to join, days after a UK High Court ruled Chinese law should govern victims' claims to the coins.
Still unresolved
- How the UK courts and authorities will treat China's confiscation bid given the parallel London proceedings over the same coins, and whether claimant lawyers' planned appeal of the High Court ruling proceeds.
- Whether Qian's remaining seized assets, already converted by UK authorities, will be distributed to victims and under which country's redress scheme.
Model-assisted explanation; citations, numbers and output format are checked. This is not independent semantic verification.
Source evidence
www.coindesk.com
Published 22/10/2026, 06:24 · Received 22/10/2026, 06:26
decrypt.co
Published 22/10/2026, 10:09 · Received 22/10/2026, 10:11
Original source titles remain in their source language. Full articles are not republished.
Market reaction after detection
Returns start at the sample closest to site detection (within the same minute up to 10 minutes later), using the same data source and quote currency. Actual sample times are shown; missing observations remain blank.
| Window | Return | Actual sampled interval / source |
|---|---|---|
| 5 minutes | -0.02% | 22/10/2026, 06:26 → 22/10/2026, 06:31 (UTC) Gate · USDT |
| 1 hour | -0.41% | 22/10/2026, 06:26 → 22/10/2026, 07:26 (UTC) Gate · USDT |
| 24 hours | — | Awaiting a complete valid window |
Historical market context
Research: hourly returns and BTC beta →
Closed hourly candles from the 30 days before this event observation. Different venues are kept separate.
| Metric | Value |
|---|---|
| Hourly coverage | 100.0% (720/720) |
| Median absolute 1h return | 0.14% |
| 99th percentile of absolute 1h returns | 1.23% |
OKX · USDT · Context as of 22/10/2026, 06:26 · Last included candle closed 22/10/2026, 06:00
Hourly descriptive statistics, not minute-move probabilities. Backfilled history never moves the observation cutoff above.
Event timeline
Source publication, receipt and analysis times are separate. All times UTC.
Source published: CoinDesk
Source received: CoinDesk
Event first detected by this site
Evidence record updated
Source published: Decrypt
Source received: Decrypt
Additional source received; evidence recalculated
English explanation generated
Latest content update
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