A Chinese national has been convicted in London for her central role in what authorities say is the largest cryptocurrency seizure in global history—worth over £5 billion ($6.7 billion).
Zhimin Qian, also known as Yadi Zhang, pleaded guilty on Monday at Southwark Crown Court to illegally acquiring and possessing vast amounts of bitcoin linked to a massive investment scam in China. Between 2014 and 2017, Qian defrauded more than 128,000 victims, storing the stolen proceeds in cryptocurrency.
The Metropolitan Police, which led the seven-year investigation, said Qian fled China using false documents and settled in the UK, where she attempted to launder the funds through property purchases. Authorities seized 61,000 bitcoins from Qian—the largest such seizure ever in the UK.
Detective Sergeant Isabella Grotto, who led the case, described the complex operation as involving multiple international jurisdictions. The investigation began in 2018 following a tip-off about suspicious asset transfers.
Qian was aided by Jian Wen, a former takeaway worker, who was previously sentenced to six years and eight months in prison for her involvement.
Prosecutors highlighted the growing use of cryptocurrency by organised criminals. “This case illustrates the scale of criminal proceeds available to fraudsters,” said Robin Weyell of the Crown Prosecution Service.
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