Chinese prosecutors seek forfeiture of 61,800 BTC tied to illegal fundraising case

A Chinese court has accepted an application to confiscate alleged illegal proceeds from Qian Zhimin, including more than 61,800 Bitcoin and other crypto assets seized in the UK, Pengpai News reported. The Tianjin No. 2 Intermediate People’s Court accepted the application on Sept. 28, Pengpai News reported. The Tianjin People’s Procuratorate No. 2 Branch applied for the forfeiture, saying Qian was involved in an illegal fundraising and money laundering case worth more than 40 billion yuan and that the seized Bitcoin and other virtual assets constituted illegal proceeds. Assets listed in the application also include Bitcoin Cash (BCH), Bitcoin Gold (BTG), Bitcoin SV (BSV), XRP, DOGE, cash, jewelry, bank deposits and investment assets. Property that must be returned to victims under the law is excluded from the forfeiture request.