Figure : Zhimin Qian (Metropolitan Police)
London – 30 September 2025
A Chinese national has been convicted in the UK following a massive cryptocurrency fraud case that led to the world’s largest bitcoin seizure.
Zhimin Qian, also known as Yadi Zhang, pleaded guilty at Southwark Crown Court to acquiring and holding over 61,000 bitcoin, valued at more than £5 billion ($6.7 billion). The cryptocurrency is believed to have originated from a large-scale investment scam in China that defrauded over 128,000 victims between 2014 and 2017.
Qian fled China using false documents and entered the UK, where she allegedly attempted to launder the funds through luxury property deals. UK authorities said the investigation took seven years and involved international law enforcement cooperation.
Another woman, Jian Wen, was previously jailed for helping Qian launder the funds. She reportedly went from living above a Chinese restaurant to renting a multi-million-pound home in London.
Qian is being held in custody, with sentencing expected after further trials involving others connected to the scheme.
UK officials say the conviction sends a strong message that the country will not serve as a haven for financial criminals.
Note: This article is based on public legal proceedings and official statements. No ground reporting was conducted.
Source: BBC News, The Guardian
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