Saturday, March 29, 2025
LONDON — A Chinese national has been found guilty following an exhaustive global financial crime investigation that culminated in the seizure of the largest single stash of cryptocurrency ever recorded. Law enforcement officials, specifically the Metropolitan Police, announced they had confiscated 61,000 units of Bitcoin, a digital fortune with a current market valuation exceeding £5 billion ($6.7 billion).
The convicted individual, Zhimin Qian (also known as Yadi Zhang), formally admitted her culpability in Southwark Crown Court on Monday for charges related to unlawfully obtaining and holding the vast digital currency assets.
From 2014 through 2017, Qian masterminded an enormous fraud operation in her native China. The scheme preyed upon more than 128,000 investors, with the resulting illegal profits being immediately converted into Bitcoin for concealment.
According to a lead detective on the case, Qian’s guilty plea is the climax of a seven-year-long probe into a complicated, worldwide money-laundering web. The 47-year-old had successfully eluded capture for five years, gaining entry to the UK using counterfeit documents to begin purchasing real estate as a method of disguising the criminal money.
Qian’s legal representative stated that she hopes her admission of guilt provides some closure to the investors who have been awaiting recompense since 2017. Furthermore, the solicitor noted that the substantial appreciation in the market price of Bitcoin ensures there are adequate funds available to cover all victim losses. Despite this, conflicting information suggests that UK governmental departments may seek to retain control of the seized funds.
Qian was assisted by Jian Wen, a former Chinese food delivery worker who was sentenced last year to six years and eight months for her involvement in moving the illicit wealth. Wen’s sudden affluence was marked by a move from a small apartment above a restaurant to a multi-million-pound residence in North London and the acquisition of two properties in Dubai valued at over £500,000. The police separately recovered over £300 million in Bitcoin directly linked to Wen.
Reports from Chinese journalists detailed that the victims were predominantly older individuals, with many professionals among them, often convinced to invest by friends or relatives. The investors knew little about Qian, who was popularly known as “the deity of prosperity.”
The Deputy Chief Crown Prosecutor commented that this case highlights how extensively Bitcoin and other digital currencies are being exploited by criminal organizations to obscure the magnitude of their proceeds.
Qian remains in custody, and her official sentencing will be scheduled following the conclusion of a related trial involving other parties connected to the operation.
