Caixin says crypto is among few assets Zou Shiming couple’s creditors may still recover

A Caixin report said six individual creditors see money put into P2P platforms and virtual currency as among the only losses that may still be recouped after other assets were exhausted.

Summary

Virtual currency has emerged as one of the few potentially recoverable assets for creditors pursuing the couple Zou Shiming and his wife, Caixin reported. In the view of six individual friends who are creditors, funds invested in P2P (peer-to-peer lending) platforms and virtual currency are the only parts of their losses that still appear to offer some chance of repayment. Other assets and spending items have largely been written off: properties have been sold, luxury goods were disposed of at a discount, boxing gym fit-out costs have been scrapped, and cross-industry projects have been shut down. The report frames crypto-related holdings as one of the last remaining avenues for recovery after more conventional assets were depleted or lost value.

Terms & Concepts
  • P2P: Peer-to-peer lending platforms
  • virtual currency: Digital assets used for transfer or investment