Tianjin's Second Intermediate People's Court has accepted a prosecutors' request to confiscate the seized assets linked to Qian Zhimin, the alleged controller of Tianjin Lantian Gree Electronic Technology. The stash, held by UK authorities, includes more than 61,800 BTC plus BCH, BTG, BSV, XRP, DOGE, cash and jewelry.

Prosecutors say that from 2014 to 2017 the company sold unlicensed wealth-management products with guaranteed returns, raising over 40.378 billion yuan from more than 102,000 investors. Funds were allegedly used to repay earlier participants and buy bitcoin, property and cars.

Victims lost nearly 20 billion yuan, and the court has opened a six-month window for them and other interested parties to join the case.

The move comes days after a UK High Court ruled that Chinese law, not English law, should govern victims' claims to the coins seized in Britain. Further hearings are expected, and lawyers for some victims are seeking to appeal.