By Sam Tobin
A Chinese woman accused of laundering bitcoin which was linked to an alleged £5.1 billion ($6.9 billion) fraud has pleaded guilty.
Zhimin Qian, also known as Yadi Zhang, appeared at Southwark Crown Court for the first day of her trial, but decided to change her pleas. The 47-year-old admitted one count of possessing criminal property, and one count of transferring criminal property.
Qian was arrested after an investigation in which British police seized wallets holding more than 61,000 bitcoin, currently worth £5.1 billion. The case is the largest ever crypto seizure by law enforcement in the UK, and one of the biggest ever worldwide.
Judge Sally-Ann Hales remanded Qian in custody ahead of sentencing, which will take place at a later date.
Her lawyers said in a statement issued after her arrest last year that Qian denied “the allegations of fraud levelled against her in China”.
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