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- Qian’s massive crypto fraud spanned years, tricked over 128,000 Chinese victims, hiding billions in bitcoin.
- UK police recovered 61,000 bitcoin worth $6.7bn, marking the world’s biggest cryptocurrency seizure.
A Chinese national has been convicted in the UK following what investigators describe as the biggest single Bitcoin seizure in the world. Authorities recovered 61,000 bitcoin valued at more than $6.7 billion at current market rates.
The woman, 47-year-old Zhimin Qian, also known as Yadi Zhang, admitted in Southwark Crown Court to illegally acquiring and holding the digital assets. Her arrest followed a seven-year investigation into a global laundering network that originated with a large fraud in China.
Between 2014 and 2017, Qian orchestrated a scheme in China which targeted more than 128,000 individuals. The amount of loss ranged from hundreds of thousands to tens of millions of yuan. The victims included business professionals, bank staff, and even members of the judiciary, many of whom were persuaded by friends and family to join her schemes.
Major Breakthrough in Multi-Jurisdiction Crypto Case
The Metropolitan Police said the case began after a tipoff about suspicious transfers linked to criminal proceeds. Qian had evaded justice for five years before being arrested in the UK, where she had been attempting to launder stolen assets through property purchases.
Detective Sergeant Isabella Grotto, who led the inquiry, described it as “a painstaking, multi-jurisdictional investigation spanning seven years.” She added, “Qian’s arrest and conviction mark a major breakthrough in targeting the illicit use of crypto assets.”
It follows a seven-year ongoing investigation by the Met’s Economic Crime team into international money laundering, which today has seen the leading figure convicted for her crimes.
Zhimin Qian, 45 (04.09.1978), of no fixed address, pleaded guilty at Southwark Crown Court on… pic.twitter.com/DYaor97YLH
— Politics UK (@PolitlcsUK) September 29, 2025
The investigation also uncovered the involvement of others. Malaysian national Seng Hok Ling pleaded guilty to money laundering on or before 23 April 2024. He was accused of “dealing in cryptocurrency on Qian’s behalf,” despite suspecting the assets were linked to crime.
Ling faces confiscation proceedings to recover more than £16.2 million, with the amount subject to change depending on Bitcoin valuations at the time of his sentencing in November.
A separate associate, Jian Wen, a 44-year-old takeaway worker, was sentenced last year to more than six years in prison. Prosecutors said Wen laundered millions, moving from modest living conditions above a restaurant to a multi-million-pound rented home in London, while also acquiring properties in Dubai worth over £500,000.
UK Not a Safe Haven for Criminals
The UK government has updated crime laws, making it easier to seize, freeze, and recover digital assets. Authorities are considering whether to retain portions of the confiscated funds, though some victims may apply for repayment.
Qian is waiting to hear his punishment, which the court will announce on November 10 during a two-day hearing at Southwark Crown Court. UK Security Minister Dan Jarvis said the case sent a “clear signal” that the country is not a “safe haven” for criminals.
Apart from this case, concerns are rising over the growing violence linked to Bitcoin. Since late February 2025, 35 new physical attacks on crypto holders have been recorded around the world, showing a 169% increase in just six and a half months.
In 2025, there have been 48 attacks so far, which is 33% more than the incidents recorded in 2024. France has faced the highest number this year, with 14 cases reported.
