Chinese National Pleads Guilty After UK Seizure of 61,000 Bitcoin That Could Be Worth Nearly $7 Billion

Zhimin Qian pleaded guilty to acquiring and possessing criminal property of 61,000 Bitcoin—assets seized by UK authorities after a seven-year probe into a large-scale fraud that defrauded 128,000 people, with the recovered Bitcoin valued at just under $7 billion. 61,000 Bitcoin seized by UK authorities, valued just shy of $7 ￰0￱ national Zhimin Qian (aka Yadi Zhang) admitted guilt in a court hearing after a seven‑year international ￰1￱ scheme, run 2014–2017, defrauded 128,000 victims and involved laundering proceeds through property purchases and third‑party assistance. 61,000 Bitcoin seized in UK fraud case, Zhimin Qian pleads guilty — read the facts on the seizure, convictions, and next legal ￰2￱ informed with COINOTAG coverage. , "description": "Zhimin Qian admitted possession of 61,000 Bitcoin linked to a fraud affecting 128,000 victims; UK authorities seized assets valued just under $7 billion." What happened in the 61,000 Bitcoin seizure and guilty plea? 61,000 Bitcoin were seized by UK authorities between 2018 and 2021 after a seven‑year international investigation into a large fraudulent investment ￰3￱ Qian (also known as Yadi Zhang) pleaded guilty to acquiring and possessing criminal property that investigators link to a scheme which defrauded 128,000 ￰4￱ was the fraud carried out and how was the cryptocurrency recovered?

The scheme operated between 2014 and 2017, collecting investor funds through a fraudulent investment platform and converting proceeds into ￰5￱ say Qian fled China in 2018 with false documentation and attempted to launder proceeds via UK property purchases and ￰6￱ Metropolitan Police’s economic crime teams undertook a coordinated recovery operation, seizing the 61,000 Bitcoin across multiple actions from 2018 to ￰7￱ seized holdings are now valued at just under $7 billion, making this one of the largest crypto recoveries recorded by UK authorities. , Why is this seizure significant for crypto crime enforcement? This recovery is significant because of its scale and visibility: 61,000 Bitcoin represents one of the largest cryptocurrency seizures in UK law enforcement ￰8￱ case underscores increased law enforcement capability to trace, seize, and litigate high‑value digital assets tied to cross‑border ￰9￱ have officials said about the investigation?

Will Lyne, head of the Metropolitan Police’s economic and cybercrime command, described the guilty plea as the result of years of dedicated ￰10￱ Prosecution Service Deputy Chief Crown Prosecutor Robin Weyell emphasized the CPS commitment to prosecuting laundering of cryptocurrency proceeds and collaborating with investigative ￰11￱ Asked Questions Who else was involved in the scheme? Authorities identified at least one named conspirator, Jian Wen, who was convicted of money laundering and received a prison sentence plus a financial ￰12￱ and criminal proceedings continue against other alleged ￰13￱ were the victims affected and what remedy is available?

Approximately 128,000 victims lost funds to the fraudulent investment ￰14￱ recovery actions aim to identify legitimate claimants, but UK-based counsel has described proving proprietary claims for international investors as a considerable legal ￰15￱ Takeaways Scale of seizure : 61,000 Bitcoin seized, valued near $7 ￰16￱ of fraud : Scheme ran 2014–2017 and affected roughly 128,000 ￰17￱ next steps : Guilty plea will be followed by sentencing and civil recovery proceedings for ￰18￱ The guilty plea by Zhimin Qian and the recovery of 61,000 Bitcoin mark a major enforcement outcome in global crypto crime ￰19￱ case highlights evolving investigative methods and legal complexities in asset ￰20￱ should follow ongoing civil proceedings and official statements from law enforcement for updates. , Published: 2025-09-29 | Updated: 2025-09-29 | Author: COINOTAG Reporting draws on statements from the Metropolitan Police and the Crown Prosecution Service; additional background reported by COINOTAG (plain text reference).