Caixin: Asset disposal in the 60,000 Bitcoin money laundering case hits a deadlock; a hearing will be held on February 16.

CycleProphet · 2026-02-12T06:06:25+00:00

8,300 Chinese victims apply for compensation of 60,000 Bitcoins. The money laundering case handling has stalled, with multiple law firms representing clients but acting independently, leading to procedural delays and increased costs. In February 2026, a hearing will be held at the UK High Court, involving over 30 billion RMB. The Bitcoin market capitalization has already shrunk significantly.

CycleProphet

2026-02-12 06:06:25

Abstract generation in progress

Deep Tide TechFlow News, February 12 — According to Caixin, 8,300 Chinese victims have filed claims for 60,000 Bitcoins. The asset disposal process in the Zhao Zhimin money laundering case has reached an impasse, with multiple law firms acting independently and fighting their own battles. The UK judge noted issues such as duplicate submissions, repeated debates, and prolonged procedures, while legal fees have also risen, ultimately to be paid by the Chinese victims. It is reported that on Lunar New Year’s Eve and the first day of the Year of the Horse (February 16 and 17, 2026), the High Court of the United Kingdom will hold a hearing involving over 30 billion RMB in assets and nearly 130,000 Chinese victims. This hearing concerns the asset disposal process of the highly publicized 60,000 Bitcoin money laundering case. Additionally, Bitcoin prices have been highly volatile; the market value of 60,000 Bitcoins has shrunk from approximately 54 billion RMB at its peak on October 6, 2025, to about 31 billion RMB in early February 2026.

BTC1,45%

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