The court has accepted the case, prosecutors seek confiscation of over 61,800 bitcoins and other assets in Qian Zhimin's 40 billion yuan illegal fundraising case

Odaily News: On October 13, the Tianjin Second Intermediate People's Court issued an announcement stating that on September 28, the court filed and accepted a case in which the Tianjin People's Procuratorate Second Branch applied for the confiscation of illegal gains of criminal suspect Qian Zhimin. The case involves more than 40 billion yuan in illegal fundraising and over 61,800 bitcoins.

According to the list of assets for which confiscation was applied as published by the Tianjin Second Intermediate People's Court, the virtual currencies involved also include approximately 72,700 Bitcoin Cash, approximately 72,700 Bitcoin Gold, approximately 72,700 Bitcoin Satoshi Vision, approximately 3.606 million XRP, and approximately 70.0812 million Dogecoin. The aforementioned Dogecoin has been converted by the UK judicial authorities and deposited into an interest-bearing account. The assets for which confiscation is sought also include cash in US dollars, euros, and pounds sterling, jewelry, as well as bank balances, investment portfolios, and others. The Tianjin People's Procuratorate Second Branch believes that Qian Zhimin is suspected of the crime of fundraising fraud, and after fleeing and being wanted for one year cannot appear in court. The more than 61,800 bitcoins and other assets seized in the United Kingdom are illegal gains and proceeds derived therefrom, and should be recovered according to law, and confiscated after returning them to the damaged fundraising participants according to law.