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Chinese woman convicted after ‘world’s biggest’ bitcoin seizure
A Chinese national has been convicted following an international fraud investigation which resulted in what’s believed to be the single largest cryptocurrency seizure in the world.
The Metropolitan Police says it recovered 61,000 bitcoin worth more than £5bn ($6.7bn) in current prices.
Zhimin Qian, also known as Yadi Zhang, pleaded guilty on Monday at Southwark Crown Court of illegally acquiring and possessing the cryptocurrency.
Between 2014 and 2017 she led a large-scale scam in China which involved cheating more than 128,000 victims and storing the stolen funds in bitcoin assets, the Met said in a statement.
It said the 47-year-old’s guilty plea followed a seven-year probe into a global money laundering web which began when it got a tipoff about the transfer of criminal assets.
Qian had been “evading justice” for five years up to her arrest, which required a complex investigation involving multiple jurisdictions, said Detective Sergeant Isabella Grotto, who led the Met’s investigation.
She fled China using false documents and entered the UK, where she attempted to launder the stolen money by buying property, said the Met.
“By pleading guilty today, Ms Zhang hopes to bring some comfort to investors who have waited since 2017 for compensation, and to reassure them that the significant rise in cryptocurrency values means there are more than sufficient funds available to repay their losses,” said Qian’s solicitor Roger Sahota, of Berkeley Square Solicitors.
But some reports have suggested the UK government will seek to retain the seized funds.
The BBC has approached the Treasury and the Home Office for a response.
Reforms to crime legislation under the previous Conservative government aimed to make it easier for the UK authorities to seize, freeze and recover crypto assets.
The changes would also allow some victims to apply for the release of their assets held in accounts.
Qian had help from a Chinese takeaway worker named Jian Wen, who was jailed for six years and eight months last year for her part in the criminal operation.
Wen, 44, laundered the proceeds from the scam and moved from living above a restaurant to a “multi-million pound rented house” in north London, said Crown Prosecution Service (CPS) earlier this year.
She also bought two properties in Dubai worth more than £500,000, the CPS said.
The Met said it seized more than £300m worth of bitcoin from Wen.
Chinese media outlet Lifeweek reported in 2024 that investors, mostly between 50 and 75 years old, had poured “hundreds of thousands to tens of millions” of yuan into investments promoted by Qian.
Some of the victims – including business people, bank employees and members of the judiciary – were reportedly urged to invest with Qian’s scheme by friends and family.
The investors reportedly knew little about Qian, who was described as “the goddess of wealth”.
“Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct,” said deputy chief Crown prosecutor, Robin Weyell.
“This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters.”
Monday’s conviction marks the “culmination of years of dedicated investigation”, which has involved the police and Chinese law enforcement teams, said Will Lyne, the Met’s Head of Economic and Cybercrime Command.
Qian is being held in custody ahead of sentencing, which will take place after a trial involving others linked with the case. The date of her sentencing has yet to be fixed.
The BBC has contacted the Chinese embassy in the UK for comment.
[BBC]
Countries around the world are welcoming the New Year as midnight strikes from time zone to time zone.
The island of Kiritimati – an atoll in the remote Pacific nation of Kiribati – became the first place to enter 2026. One tourist there told us he marked it “on a beach with no satellites, no signs of human life, complete darkness and countless crabs”.
Spectators in the UK have enjoyed thousands of fireworks light up London skies, while in Edinburgh, crowds gathered in true Hogmanay fashion despite weather warnings.
Then Australia lit up the sky over the Sydney Opera House and Sydney Harbour Bridge.
In Sydney, celebrations were tempered by sadness as the nation reflected on the Bondi Beach attack on 14 December in which 15 people were killed.
At 23:00 local time, Sydney Harbour fell silent for a minute, with crowds holding lights to remember the victims of Bondi. A Jewish menorah was projected on to the pylons of the Harbour Bridge.
Elsewhere, there were more fireworks at Marina Bay Waterfront in Singapore.
Fireworks matched the brilliance of skyscraper lights in Makati, Metro Manila, Philippines. [BBC]
Thousands lined the Chao Phraya river in Bangkok as Thailand welcomed the New Year.
In Dubai, people watched fireworks from the world’s tallest building, the Burj Khalifa, following a performance with light displays, music and water jets.
[BBC]
In Hong Kong, spectators enjoyed live performances with fetching headwear.
The Juyongguan Great Wall was lit up in Beijing.
[BBC]
Laser lights dominated the night sky over the Lotte World Tower, South Korea’s tallest building in Seoul.
At the Bosingak pavilion in Seoul, artists performed during the New Year countdown.
A street performer showed off her fiery skills as part of the Procession of Light in Dublin before heading to the Matinee Countdown Concert in Dublin Castle.
In other parts of the world, nations marked the coming New Year with their own traditions.
On a nudist beach in Le Cap d’Agde, southern France, clothed and unclothed revellers took part in a traditional sea dip to mark the New Year’s celebrations.
Swimmers at Islands Brygge Harbour Bath in Copenhagen, Denmark, also braved the cold waters for a traditional splash, known as Nytaarsbad.
In Ommen, the Netherlands, local residents watched the annual carbide shooting – a New Year’s Eve tradition of turning milk cans into cannons.
In Osaka, Japan, young women dressed in traditional kimono took part in a Shinto ritual procession to mark the end of the year at Sumiyoshi Taisha, one of Japan’s oldest Shinto shrines.
Colourful runners braved the December air in Krakow, Poland, for the traditional Krakow New Year’s Run in the Old Town.
Adults and children performed a traditional dance to release the sun of 2025, and to welcome the sun of 2026, in in Denpasar, Bali, Indonesia.
AFP via Getty Images
Highlighting the spirit of global and regional cooperation, the Sri Lanka Navy acknowledged the invaluable support by foreign warships, which had arrived to take part in the International Fleet Review (IFR) 2025, extending much-needed Humanitarian Assistance and Disaster Relief (HADR) operations, during the recent weather disaster in Sri Lanka.
The IFR 2025 was held off the Galle Face seas, marking the milestone 75th anniversary celebrations of the Sri Lanka Navy.
Representing the Government of Sri Lanka, Prime Minister Dr. Harini Amarasuriya graced the event and received the traditional naval salute from onboard SLNS Gajabahu, as the participating foreign warships paid their honours.
Eight (08) foreign naval warships arrived in Sri Lanka by 27 November to take part in the IFR under the theme “Sailing Strong – Together”. The participating warships included the Bangladesh Navy’s BNS PROTTOY, the Indian Navy’s aircraft carrier INS VIKRANT and INS UDAYGIRI, Iran Navy’s IRIS NAGHDI, the Maldivian Coast Guard’s CGS HURAVEE, the Royal Malaysian Navy’s KD TERENGGANU, Pakistan Navy’s PNS SAIF and Russian Navy’s GREMYASCHCHY.
Due to the disaster-situation triggered by severe weather conditions across the island, foreign warships that arrived for the event were promptly redirected to support humanitarian efforts. Particularly, helicopters deployed from the Indian Navy’s aircraft carrier INS VIKRANT and Pakistan Navy’s PNS SAIF played a praiseworthy role in search and rescue missions for affected communities.
Accordingly, the warships representing each nation joined the IFR, honouring proud maritime traditions and in acknowledgement of Sri Lanka and its Navy. Their participation also reinforced collective cooperation and partnership needed to address non-traditional maritime threats in the region, as well as natural disasters driven by climate change.
The Prime Minister expressed gratitude to a group of diplomatic officials, present on this occasion, for their support in the disaster relief operations. The officials, who were present on the occasion, represented the High Commissions and Embassies of Bangladesh, India, Iran, Maldives, Malaysia, Pakistan, and Russia in Sri Lanka.
A train driver has died and at least 40 people have been injured in a head-on rail collision near Peru’s most popular tourist attraction, Machu Picchu.
Two trains collided on the single track leading to the ancient Inca town on Tuesday, according to a statement from the local government.
It said that 20 ambulances had attended the scene and that injured people had been transferred to medical facilities in the nearby city of Cusco.
The US embassy in Peru said that US citizens were injured in the crash, while the UK Foreign Office said it was “supporting a number of British nationals involved”.
Local media outlet Peru21 reports that hundreds of tourists remain at the scene awaiting evacuation, which has been hampered by difficult terrain around the crash site.
At least 20 of the injured are in a serious condition, a health official told the Reuters news agency.
The collision occurred on the track linking Ollantaytambo Station and Aguas Calientes, the closest town to Machu Picchu. The journey between the two stations usually takes around 90 minutes.
The two trains involved in the accident were operated by PeruRail and Inca Rail respectively.
“We deeply regret what has happened,” PeruRail said in a statement, adding that its staff had “immediately” provided first aid to the train driver, the train conductor and the passengers involved in the incident.
The cause of the accident has not yet been made clear.
(BBC)
In pictures: New Year welcomed around the world
Foreign warships commended for their assistance during weather disaster in Sri Lanka
Machu Picchu train crash leaves one dead and dozens injured
I invite you to step into 2026 with renewed energy, hope, and determination – PM
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