UK Court Rules Chinese Victims Can Only Recover Principal and Interest
Prefer us on GoogleOn October 12, the High Court of England ruled that the claims of Chinese investors regarding Bitcoin ownership in the Tianjin Lantian Ge Rui illegal fundraising case should be governed by Chinese law rather than UK law. This ruling affects approximately 16,000 Chinese victims participating in the UK recovery process, who may not be able to share in the appreciation brought about by the surge in Bitcoin prices and can only recover their principal and interest at most. Qian Zhimin purchased Bitcoin through Huobi in 2014 at an average price of about 2,815 RMB. After experiencing multiple fluctuations, the price of Bitcoin reached 560,000 RMB as of October 12, 2026, approximately 200 times the average purchase price that year. During the court hearing in July this year, the UK Crown Prosecution Service argued for the application of Chinese law, and the court ultimately supported this position.
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