Key doubts exposed in the Qian Zhiming case: 195,000 BTC, only 61,000 BTC locked, the whereabouts of more than 120,000 BTC remain a mystery.

According to reports from multiple media outlets on November 28, key doubts about the assets involved in the Tianjin Lantian Gerui large illegal fundraising case and the largest Bitcoin money laundering case in British history, in which Qian Zhimin is the main suspect, have been revealed.

According to reports, out of the total 194,951 BTC (approximately 195,000 BTC) purchased under the name of Qian Zhimin, only 61,000 BTC have been locked by the British police, while the whereabouts of more than 120,000 BTC remain unknown. It cannot be ruled out that some BTC have not been discovered or have already been confiscated.

According to a previous article by China News Weekly and information disclosed by the London Metropolitan Police, Qian Zhimin, between 2014 and 2017, used the guise of "artificial intelligence + Bitcoin mining + high-yield financial management" through Blue Sky Ge Rui Company to attract over 128,000 investors, raising over 40 billion yuan, of which more than 1.14 billion yuan was used for systematic purchases of Bitcoin.

UK court documents show that Qian Zhimin has accumulated a total of 194,951 BTC, but as of his sentencing to 11 years and 8 months in November 2025, British police had only locked 61,000 BTC. This portion of BTC had a market value that once approached 50 billion RMB due to market fluctuations.

There are currently no clear clues regarding the whereabouts of the remaining over 120,000 BTC. Notably, a detective from the London Metropolitan Police revealed in an interview with the British media that Qian Zhimin claimed to have a wallet containing 20,000 BTC with a "lost password." At the current market price of BTC, the value of this portion of "lost" BTC is approximately 12.5 billion RMB.

Previously, the hearing for the disposal of the 61,000 BTC assets in the Qian Zhimin case was originally scheduled to be held by the UK Supreme Court on November 17, 2025, but has been postponed to January 2026.

With over 120,000 Bitcoins going missing and the uncertainty of whether the subsequent 20,000 Bitcoins lost due to "password loss" can be recovered, this has not only become a new focus of the case but has also added more uncertainty to the cross-border recovery of stolen assets between China and the UK, as well as the distribution of compensation to victims.

At the same time, Chinese public security organs are still advancing the recovery of stolen assets through international law enforcement cooperation. Relevant departments in Tianjin have also begun verifying and registering victim information in preparation for subsequent fund refunds. However, there has been no further disclosure of investigation progress regarding the more than 120,000 unaccounted BTC.

#钱志敏案 # BTC追索