Money Laundering Case Involving 60,000 Bitcoins: Over a Thousand Chinese Users Represented by Law Firm for Recovery, Current Case Value Approximately 48 Billion RMB

September 29th. According to Caixin's report, numerous Chinese law firms have been entrusted to represent the Chinese investors in the Blue Sky Grid Group case. They are applying to the High Court of England for civil recovery of 60,000 bitcoins involved in a money laundering case. Law firms such as Ji Ren Law Firm, Duanhe Duan Law Firm, and Yingke Law Firm, etc., jointly represent more than a thousand clients. The presiding judge in this case is Her Honour Judge Sally-Ann Hales KC, who enjoys significant reputation and influence in the UK criminal justice field. The lead barrister defending Qian Zhimin is Philippa Eastwood from Doughty Street Chambers. Based on market prices, the 61,000 bitcoins frozen in the UK are approximately worth 48 billion RMB. Previously reported, Qian Zhimin, the main suspect in the 60,000 Bitcoin money laundering case, will stand trial today at the Southwark Crown Court in London. A Chinese investigating officer will give testimony in person in London, and multiple Chinese victims will give testimony via video link from a court in Tianjin, China. The trial is expected to last 12 weeks and end before Christmas. Qian Zhimin is accused of illegally raising about 43 billion RMB through a Ponzi scheme-like "investment financial management" product operated by Tianjin Blue Sky Grid Electronic Technology Co., Ltd. from 2014 to 2017, affecting 130,000 victims. This case is not only a landmark event in China's history of illegal fundraising but also one of the largest cryptocurrency money laundering cases in UK judicial history.