Core Points - The largest Bitcoin money laundering case in the UK involves the main perpetrator, Qian Zhimin, who appeared in court in London on September 29 and admitted to charges related to Bitcoin money laundering [1] - Over 128,000 individuals were defrauded in this case, involving 61,000 Bitcoins, which is approximately 49.35 billion RMB [1] - The trial is expected to last for 12 weeks, with multiple Chinese victims set to testify via remote video [1]

Core Points - The case involves the largest Bitcoin money laundering scheme in the UK, with over 128,000 victims and 61,000 Bitcoins (approximately 49.35 billion RMB) involved [1][15] - The main defendant, Zhimin Qian, admitted to the charges related to Bitcoin money laundering during her court appearance in London [1][2] Group 1: Case Background - Zhimin Qian, also known as Yadi Zhang, is 47 years old and was involved in a major fraud scheme in China from 2014 to 2017, leading to significant financial losses for victims [2][3] - The investigation spanned seven years and involved multiple jurisdictions, highlighting the complexity of the case [3] - Qian's illegal activities included converting illicit gains into Bitcoin and attempting to launder money through real estate purchases in the UK [2][4] Group 2: Financial Impact - The total amount involved in the Blue Sky Greit case exceeded 43 billion RMB, with nearly 130,000 victims across China [3][12] - From 2014 to 2017, Blue Sky Greit raised over 40.2 billion RMB, with 11.4 billion RMB used to purchase Bitcoin [12] - The UK police seized over 61,000 Bitcoins, marking the largest cryptocurrency seizure in the country, valued at approximately 6.932 billion USD (about 49.35 billion RMB) [15] Group 3: Legal Proceedings - Qian is currently in custody awaiting sentencing, with the court proceedings expected to last 12 weeks [3] - The UK authorities are initiating asset forfeiture procedures following Qian's guilty plea [3][5] - Victims in China have received partial compensation through a compensation plan established by Chinese authorities [3]

Core Points - The main defendant in the UK's largest Bitcoin money laundering case, Qian Zhimin, appeared in court in London on September 29 and admitted to the charges related to Bitcoin money laundering [1] - The trial is expected to last for 12 weeks, with multiple Chinese victims set to testify via video [1] - Qian Zhimin is also the main perpetrator of a major illegal fundraising case in Tianjin, China, and after the scheme collapsed in 2017, she converted her illegal gains into Bitcoin and transferred them overseas [1] - She fled to the UK using a fake passport, and Chinese police issued a red notice through Interpol for her arrest, which occurred in April 2024 [1]

Core Points - The case involving a significant Bitcoin money laundering scheme linked to Chinese investors has progressed, with the main defendant, Qian Zhimin, admitting to charges related to money laundering in a London court [1] - The trial is expected to last 12 weeks, and multiple Chinese victims will testify via video link from Tianjin [1] - Qian Zhimin, who previously denied all charges, is the mastermind behind the Tianjin Lantian Ge Rui illegal fundraising case, which involved converting funds into Bitcoin and fleeing to the UK [1][3] Group 1 - Qian Zhimin's assets have been frozen by UK authorities, and a civil recovery process has been initiated to reclaim funds for the victims [3] - The 2017 crackdown on token issuance in China led to numerous illegal fundraising cases, with the Lantian Ge Rui case involving over 43 billion RMB [3] - The UK Financial Conduct Authority has intensified efforts to combat money laundering through cryptocurrency [4] Group 2 - Qian Zhimin attempted to purchase a £23.5 million mansion using Bitcoin, which raised suspicions due to the unclear source of funds [4] - During the COVID-19 pandemic, UK police conducted multiple searches related to Qian Zhimin and her associate, ultimately freezing 61,000 Bitcoins, marking the largest seizure in the UK [4] - The legal framework governing the recovery of criminal proceeds in the UK is outlined in the Proceeds of Crime Act 2002, which includes both criminal confiscation and civil recovery processes [5]

Core Points - The central issue revolves around Qian Zhimin, the main suspect in the largest Bitcoin money laundering case in the UK, who admitted to charges related to money laundering in a London court [1][2]. Group 1: Case Details - Qian Zhimin, aged 47, appeared in Southwark Crown Court in London on September 29, where he changed his previous plea and admitted to charges of "possessing criminal property" and "transferring criminal property" [1]. - The case involves 61,000 Bitcoins, valued at approximately 48 billion RMB based on the market price on September 28 [1]. - Qian is linked to a major illegal fundraising case in Tianjin, China, which occurred in 2017, involving over 43 billion RMB and affecting nearly 130,000 victims across 31 provinces and municipalities in China [3]. Group 2: Legal Proceedings - The judge, Hales, has remanded Qian in custody pending sentencing, with the specific date for sentencing yet to be determined [2]. - The trial is expected to last 12 weeks and conclude before Christmas, with Chinese law enforcement officers and victims participating via video link [3]. - Qian was arrested in the UK in April 2024 after fleeing to Britain using a fake passport, and 61,000 Bitcoins were seized by police in May 2021, marking one of the largest cryptocurrency seizures by law enforcement globally [3].