16,000 Chinese victims in the UK seek recovery of assets from the case involving 60,000 bitcoins, and there has been progress in asset disposal

On June 5, local time, the High Court of England held a procedural hearing regarding the asset disposal related to the Qian Zhiming case. Regarding approximately 60,000 bitcoins and other assets involved in the case, about 16,000 Chinese victims have registered through multiple UK law firms to participate in the civil recovery process under the UK Proceeds of Crime Act. The registration window closed on May 22.

An important topic of this hearing was how multiple law firms would share the common litigation costs. The judge ultimately decided that each law firm would pay their corresponding share of £190,000 into the court account based on the number of victims they represent, with a deadline of June 26 at 4 PM. A special hearing to determine the "legal applicability issue" of whether Chinese victims can claim ownership of the assets involved will be held in July.