There is a new development in the cross-border Bitcoin freezing case. Originally, the trial was scheduled for November this year in the UK, but it has now been postponed to January next year. The main reason is that both criminal and civil procedures are being conducted simultaneously, which requires time to organize evidence and coordinate various steps. In simple terms, the process is complex, and progress is slow.

What’s more troublesome is the UK’s asset recovery incentive mechanism(ARIS)—where police and the central government share 50/50 in confiscated assets. What does this mean? It means that domestic efforts to recover the full amount face significantly higher difficulty, and negotiations are needed between the parties.

The case itself is also more headache-inducing. Initially, over 194,000 Bitcoins were purchased, but only 61,000 have been frozen so far, with more than 120,000 Bitcoins seemingly vanished. Additionally, there is a case where a holder claims to have lost the wallet password for 20,000 Bitcoins, which, at current prices, amounts to over 12.5 billion dollars. Whether these assets can be recovered now remains uncertain.

Finally, there is a difficult question—Bitcoin’s value fluctuates daily. Should the basis be the price at the time of the incident, the price at the time of freezing, or the final reimbursement price? How should the appreciation be divided? All these questions await a court decision. Cross-border asset recovery may seem simple, but in reality, it involves complex legal, procedural, and market factors.