Zhimin Qian pleads guilty in UK’s $6.7B Bitcoin laundering case
Guilty Plea: Zhimin Qian, known as Yadi Zhang, pled guilty in a UK court on September 29, 2025, for laundering Bitcoin from a Chinese investment fraud.
Bitcoin Seizure: Authorities recovered over 61,000 BTC, valued at approximately $6.7 billion, marking one of the largest crypto seizures globally.
Fraud Origin: The funds originated from a pyramid scheme targeting investors in China. Qian fled to the UK and used false identities and front companies to conceal the assets.
Cross-Border Movement: Prosecutors highlighted how Bitcoin facilitated cross-border movement of stolen funds, with the UK being central to the laundering process.
Ongoing Investigation: Sentencing is pending, with investigators anticipating the capture of more suspects linked to the fraud. This case represents significant progress in combating crypto-related financial crime.
