CX Daily: How Billions in Bitcoin Laundered From China Ended Up in British Hands

Bitcoin /

Cover Story: How billions in Bitcoin laundered from China ended up in British hands

It’s hard to square how a high roller who lived in a villa, spent tens of thousands of pounds on luxuries, and even bought properties worth more than half a million pounds in Dubai could have once been a worker living above a Chinese restaurant in the U.K.

The person who experienced this change of fortunes was Wen Jian, a 42-year-old from Hendon, in north London, who was found to have participated in what the British Metropolitan Police described as the largest Bitcoin money-laundering case in U.K. history, resulting in the seizure of 61,000 bitcoins, now worth approximately 31 billion yuan ($4.3 billion).