Overview

• Qian admitted at Southwark Crown Court to acquiring and possessing criminal property under the Proceeds of Crime Act and was remanded pending sentencing.
• The Metropolitan Police say they seized 61,000 bitcoins linked to Qian in 2018, calling it the world’s largest single cryptocurrency seizure, valued at roughly £5–5.5 billion today.
• Investigators allege the cryptoassets stem from a 2014–2017 investment fraud in China that affected about 128,000 people.
• Prosecutors said no confiscation application will be made now because the assets are subject to civil recovery, with a High Court freezing order in place.
• The case followed years of cross‑border work with Chinese law enforcement; Qian’s associate Jian Wen was jailed in 2024 for facilitating movement of a wallet containing 150 bitcoins.