Bitcoin crime: Chinese woman pleads not guilty to UK laundering charges

Zhimin Qian, also known as Yadi Zhang, has pleaded not guilty to charges of laundering Bitcoin in a London court.

According to Bloomberg, Qian, a Chinese national, was arrested in April and faces two counts of money laundering. The UK’s Criminal Prosecution Service alleges that, prior to April 23, Qian was involved in possessing and transferring illicit cryptocurrency as part of a broader operation.

Authorities claim that Qian enlisted the help of Jian Wen, who was sentenced to over six years in prison for her role in the money laundering scheme. During a 2018 police raid, Wen was found in possession of 61,000 Bitcoin (currently valued at more than £3 billion or $4 billion).

Wen’s arrest allegedly led investigators to Qian, who has earned the nickname the “Crypto Queen.” She is accused of defrauding 130,000 Chinese investors of $5.6 billion between 2014 and 2017. Despite these serious allegations, Qian denies any criminal wrongdoing and intends to challenge the charges.

The trial is scheduled to begin in September 2025 at Southwark Crown Court, where co-defendant Seng Hok Ling has also pleaded not guilty to related charges.