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Exclusive: U.K. Details Chinese Bitcoin Launderer’s Escape and Evasion

Published: Nov. 11, 2025 3:20 p.m. GMT+8

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Qian Zhimin.

(London) — At a sentencing hearing in London, prosecutors revealed that Qian Zhimin, the mastermind in the U.K.’s largest bitcoin money laundering case, acquired a total of nearly 195,000 bitcoins from a massive Ponzi scheme in China.

The hearing at Southwark Crown Court on Monday detailed for the first time her elaborate escape and years-long evasion of justice in the U.K.

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Qian Zhimin, mastermind in the UK's largest bitcoin laundering case, laundered nearly 195,000 bitcoins from a Chinese Ponzi scheme involving over 40 billion yuan from 128,000 investors.
Qian evaded justice for years, using fake identities and multiple countries to escape capture; over 60,000 bitcoins were seized after her lavish spending triggered police review.
Prosecutors seek an 8–13 year sentence; the judge will announce the sentence on Tuesday.

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Who’s Who

Tianjin Lantian Gerui Electronic Technology Co. Ltd.: Tianjin Lantian Gerui Electronic Technology Co. Ltd. was the vehicle for a massive Ponzi scheme in China. Between 2014 and 2017, it took in over 40 billion yuan from approximately 128,000 investors. Qian Zhimin, the mastermind of the scheme, used some of these funds to acquire nearly 195,000 bitcoins.

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What Happened When

2014-2017：: About 128,000 investors poured over 40 billion yuan into Tianjin Lantian Gerui Electronic Technology Co. Ltd.’s Ponzi scheme; Qian used some of these funds to purchase 194,951 bitcoins.

February 2017：: Qian began planning her escape, used the identity of Yadi Zhang to apply for St. Kitts and Nevis citizenship and passport after making a $250,000 donation.

July 26, 2017：: Qian illegally crossed the border from China into Myanmar, obtained a fraudulent Myanmar passport under the name 'Nan Ying'.

After July 26, 2017：: Qian traveled from Myanmar to Thailand, then Laos and Malaysia, before arriving at London’s Heathrow Airport.

September 16, 2017：: Qian arrived at London’s Heathrow Airport.

By 2018：: Qian attracted U.K. police attention after her lavish spending triggered an anti-money laundering review, leading to the seizure of more than 60,000 bitcoins and the conviction of her assistant Wen Jian.

October 2018：: British police lost track of Qian.

After October 2018：: Qian remained in the U.K., hired Malaysian national Seng Hok Ling as a frontman, who arranged her accommodation and recruited four undocumented Malaysian workers to support her.