Share this article
Guilty Verdict for Woman Accused of Laundering Bitcoin Tied to Alleged $6B China Fraud: Bloomberg
Police in the U.K. seized over 1.7 billion pounds ($2.2 billion) worth of related bitcoin in 2018.
Updated Mar 20, 2024, 4:33 p.m. Published Mar 20, 2024, 4:32 p.m.
- Jian Wen was found guilty of money laundering by a London jury that couldn't reach a decision on two other charges.
- Jian, who denied the allegations, was previously acquitted of other money laundering charges at a separate trial.
A U.K. citizen was found guilty of laundering huge amounts of bitcoin for a Chinese fugitive tied to an alleged $6 billion investment fraud, Bloomberg reported on Wednesday.
Jian Wen, who denied the allegations, helped her former employer launder the funds between 2017 and 2022, a London jury found. The jury couldn't reach a decision on two other charges. The 42-year-old had previously been acquitted of other money laundering charges at a separate trial.
STORY CONTINUES BELOW
Police in the U.K. seized over 1.7 billion pounds ($2.2 billion) worth of bitcoin related to the alleged fraud in a 2018 operation. Jian Wen was accused of laundering BTC on behalf of her former employer, Yadi Zhang, whose real name is Zhimin Qian.
Zhimian is said to have duped around 130,000 investors in China in an investment scam that prosecutors estimated brought in almost $6 billion.
Jian will be sentenced on May 10.
Read More: UK Law Enforcement Will Soon Have More Power to Seize Crypto Assets
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
SEC Approves U.S.’ Second Crypto Index ETP with Bitwise’s BITW
The Bitwise 10 Crypto Index Fund now trades on NYSE Arca, joining the ranks of gold and oil funds in regulated exchange products.
What to know:
- The Bitwise 10 Crypto Index Fund (BITW) has received SEC approval to trade as an exchange-traded product on NYSE Arca.
- BITW offers diversified exposure to the 10 largest cryptocurrencies, including Bitcoin and Ether, and is rebalanced monthly.
- This approval marks a significant milestone for crypto indices, potentially attracting more institutional investment.
Top Stories
