In a case that has stunned the global financial world and marked a milestone in the fight against cybercrime, a Chinese national at the center of what authorities call the world’s largest cryptocurrency seizure has pleaded guilty in a London court. Zhimin Qian, also known as Yadi Zhang, admitted on Monday, September 29, 2025, at Southwark Crown Court to illegally acquiring and possessing cryptocurrency, bringing a dramatic close to a seven-year investigation that spanned continents and ensnared over 128,000 victims.
The Metropolitan Police’s Economic Crime team, working in close partnership with Chinese law enforcement, seized a staggering 61,000 bitcoins from Qian—valued at more than £5.5 billion ($6.7 billion) at the time of reporting. According to the Met, this operation represents not only the largest cryptocurrency seizure in UK history but is also believed to be the single largest globally.
Qian’s criminal enterprise began between 2014 and 2017, when she orchestrated a sweeping fraud scheme in China. According to Lifeweek, a Chinese media outlet, the scam targeted mostly older investors between the ages of 50 and 75. These individuals, including business professionals, bank employees, and even members of the judiciary, were lured into Qian’s schemes by promises of daily dividends and guaranteed profits—an irresistible pitch during the cryptocurrency boom in China. Some were reportedly encouraged to invest by friends and family, allured by Qian’s reputation as “the goddess of wealth.”
Qian’s company boasted that it would help position China as a hub for finance and technology, showcasing a range of purported projects and investments across the country. Investors poured “hundreds of thousands to tens of millions” of yuan into her initiatives, only to find themselves victims of one of the most audacious frauds of the digital age.
When the scheme unraveled, Qian fled China using false documents, evading justice for five years. She entered the UK in 2018, where, according to the Metropolitan Police, she attempted to launder her ill-gotten gains through property purchases. Her efforts were not solitary; she was aided by Jian Wen, a Chinese takeaway worker who played a crucial role in facilitating the laundering operation.
Wen’s transformation was as dramatic as the crime itself. As reported by the Crown Prosecution Service (CPS), Wen moved from living above a restaurant to residing in a multi-million pound rented house in North London. She also bought two properties in Dubai worth more than £500,000, all while helping to move and conceal the proceeds of the scam. The Met ultimately seized more than £300 million worth of bitcoin from Wen.
Wen’s defense claimed the properties were purchased on behalf of an employer from China, but the CPS argued that the sheer volume of bitcoin and the absence of legitimate documentation pointed squarely to criminal origins. In May 2024, Wen was sentenced to six years and eight months in prison for her part in the operation.
The investigation that brought Qian to justice began in 2018, triggered by intelligence about the transfer of criminal assets. Detective Sergeant Isabella Grotto, who led the Met’s investigation, described the case as a “complex investigation requiring evidence from multiple jurisdictions and the careful review of thousands of documents.” She added, “When our team located Zhimin Qian, she had been evading justice for five years, and her arrest triggered a complex investigation.”
Will Lyne, Head of Economic and Cybercrime Command at the Met, highlighted the unprecedented scale of the operation. “Today’s guilty plea marks the culmination of years of dedicated investigation by the Met’s Economic Crime teams and our partners. This is one of the largest money laundering cases in UK history and among the highest-value cryptocurrency cases globally. I am extremely proud of the team,” Lyne said. He emphasized the “meticulous investigation and unprecedented cooperation with Chinese law enforcement” that made it possible to “obtain compelling evidence of the criminal origins of the cryptoassets Qian attempted to launder in the UK.”
The case has also drawn attention to the broader challenges posed by cryptocurrencies in the hands of organized criminals. As Robin Weyell, Deputy Chief Crown Prosecutor for the CPS, explained: “Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct. This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters.” Weyell added that the CPS, in conjunction with law enforcement, is committed to ensuring that “the criminal assets remain beyond the fraudsters’ reach.”
Many of Qian’s victims have received partial compensation through a scheme established in China. Nevertheless, the scale of the deception and the complexity of the investigation have left a lasting impact on those involved, as well as on the global law enforcement community. The Met’s investigation is ongoing, with authorities determined to ensure that as much of the stolen wealth as possible is recovered and returned to its rightful owners.
Qian is currently being held in custody awaiting sentencing, with the date yet to be fixed. The BBC has reached out to the Chinese embassy in the UK for comment, underscoring the international significance of the case.
This landmark conviction not only underscores the evolving nature of financial crime in the digital era but also demonstrates the power of international cooperation and innovative policing. As the Met continues its efforts to build “A New Met for London,” cases like this show that even the most sophisticated criminal enterprises can be brought to justice—no matter how far their digital footprints may reach.