Woofun AI reports that the hearing for the Qian Zhimin 60,000 Bitcoin case concluded on July 9, 2026, with Blue Sky Ge Rui Company entering the dispute through a litigation administrator. The conflict has evolved into a three-way standoff involving the UK prosecution, Chinese victims, and the company.

The litigation administrator argues the Bitcoin represents substitute property from misappropriated funds. Conversely, victims claim property rights to the assets, which appreciated 152 times from their 2014 purchase price. The UK Crown Prosecution Service insists on applying Chinese law, while victims' counsel proposes four legal arguments to secure recovery of both principal and gains.