UK Jails Zhimin Qian in Record $6.2B BTC Laundering Case
London Court Hands Down 11-Year Sentence
Zhimin Qian, a Chinese national who ran a multi-million-pound investment fraud, was sentenced to 11 years and eight months in prison by a London court later than UK authorities seized more than 60,000 BTC — the country’s largest crypto confiscation to date.
Qian, who also used the alias Yadi Zhang, pleaded guilty to obtaining crypto through illegal means and to money laundering. The Metropolitan Police said the seizure, worth about $6.2 billion at current prices, represents “the largest cryptocurrency seizure by law enforcement in the UK and the largest money laundering case in UK history by value.”
Between 2014 and 2017, prosecutors said Qian defrauded roughly 128,000 people in China of around £600 million through an investment scam. About £20 million of that was later converted into BTC. She fled China before authorities could arrest her and moved to the UK, where she began attempting to convert the crypto into property and other assets.
Investor Takeaway
Money Laundering and Property Deals
later than arriving in the UK, Qian partnered with Jian Wen, who was later convicted of money laundering, and the two tried to purchase multi-million-pound properties in London. Their attempts were repeatedly blocked by banking due diligence and know-your-customer (KYC) rules, which made it hard to convert large crypto holdings into cash.
Prosecutors said Qian then turned to Senghok Ling to assist move the BTC. Together, they set up into fiat, using intermediaries to disguise the source of funds. Police say Ling’s involvement assisted Qian mask some of her transactions while maintaining her lifestyle across Europe.
According to reports cited by The Guardian, Qian spent years traveling around Europe and staying in luxury hotels while avoiding arrest. She was eventually tracked down to New York and arrested along with Ling in April 2024. Ling pleaded guilty to a single count of of nahead five years.
largegest Crypto Case in UK History
The Crown Prosecution Service (CPS) said the scale of the fraud and the amount of BTC seized made it one of the most complex financial investigations in the UK’s history. Investigators relied on digital forensics to trace BTC movements across wallets, platforms, and mixers used to conceal funds. The court heard that Qian used multiple aliases and offshore entities to hide the origin of her wealth.
Attorney General Lord Richard Hermer KC said: “Together, Zhimin Qian and Senghok Ling caused misery upon thousands of victims to fund their lavish lifestyles.”
Will Lyne, head of the Metropolitan Police’s economic and cybercrime command, said the operation shows how tracing has evolved since ahead BTC cases. “This is currently the by law enforcement in the UK,” Lyne said. “It sets a precedent for how we pursue complex, cross-border crypto.”
Investor Takeaway
Broader Context and Enforcement Outlook
The Qian case is part of a growing list of crypto-related across Europe. In recent years, have built new digital forensic units to trace assets on-chain and coordinate with international partners. While once made enforcement challenging, greater regulatory oversight and data-sharing have begun to close those gaps.
For the UK, the seizure reinforces its position as a leading jurisdiction for crypto enforcement, even as regulators continue to finalize frameworks for digital asset licensing and supervision. The Metropolitan Police said it is working with international authorities to repatriate victims’ funds, though most assets remain frozen pending further court orders.
Qian’s conviction is expected to serve as a test case for how the UK handles crypto proceeds tied to foreign investment scams — and whether can be more easily recovered for restitution in the years ahead.
