A Chinese national, Zhimin Qian, also known as Yadi Zhang, has pleaded guilty in London to illegally acquiring and possessing cryptocurrency worth more than £5bn, following what authorities say is the world’s largest bitcoin seizure.
The Metropolitan Police recovered 61,000 bitcoin linked to Qian’s large-scale scam in China between 2014 and 2017, which defrauded over 128,000 victims.
Qian had evaded justice for years before being arrested in the UK, where she attempted to launder the funds through property deals.
A Malaysian national, Seng Hok Ling, also admitted to money laundering charges in connection with the case.
The conviction follows a seven-year international probe into a vast fraud and money-laundering network, with UK authorities now pursuing confiscation proceedings as victims await compensation. Qian will be sentenced in November alongside her co-conspirator.
Canada has just executed its largest cryptocurrency seizure in history, confiscating over $56 million from the exchange platform TradeOgre.
🔍 What Happened
– The RCMP (Royal Canadian Mounted Police) dismantled TradeOgre in September 2025, following a tip from Europol in mid-2024.
– Investigators found the platform violated Canadian laws by:
– Failing to register with FINTRAC (Canada’s financial intelligence unit).
– Not identifying its clients—making it a haven for money laundering.
– The platform’s assets were seized, and a warning message now appears: “This site and its cryptoassets have been seized by the RCMP.”
🌀 Why It Matters
– TradeOgre’s anonymity model made it attractive to criminal organizations.
– This marks the first time Canadian law enforcement has dismantled a crypto exchange.
– Charges may follow as transaction data is analyzed.
Crypto is a ponzi scheme where those coming in acting as a pay wall for those who want out
Easily able to be pumped and dumped by the platform owner
Clear ponzi text: crypto needs another dumb sucker to be dumber than the first one to buy that fictious sh*t.